CINCINNATI FINANCIAL CORP: The Cincinnati Insurance Company's Chief Insurance Officer to Retire

Cincinnati Financial Corp issued the following announcement on Aug. 20.

Cincinnati Financial Corporation (Nasdaq: CINF) announced that Jacob F. Scherer, Jr., chief insurance officer and executive vice president of its lead subsidiary, The Cincinnati Insurance Company, plans to retire in August 2019.

Steven J. Johnston, president and chief executive officer, commented: "Uniting our property casualty operations under J.F.'s leadership fostered a high level of collaboration that's allowed our company to advance our growth, our profitability and our service to agents. Thanks to his guidance, we have a new generation of leaders ready to keep the company moving forward – leaders who he instilled with the clear understanding of the advantages we earn through our unwavering support of the independent agency system."

Leadership changes to be effective January 1, 2019, include:

Stephen M. Spray, senior vice president – Commercial Lines, will become chief insurance officer and assume executive oversight of the company's property casualty insurance operations. An insurance industry veteran with almost 30 years of experience, Spray has served as an agent, an underwriter and a field marketing representative. He also helped establish the company's excess and surplus lines operations, created the Target Markets division and led property casualty sales and marketing.

Sean M. Givler, CIC, CRM, senior vice president – Sales & Marketing, will assume leadership of the company's commercial lines operations. Givler has held a variety of positions of increasing responsibility over his more than 20 years with the company in underwriting and field sales. Most recently, he was the senior executive responsible for relationships with the company's independent agents and for the execution of its field strategy.

Angela O. Delaney, assistant secretary – Sales Field, will assume leadership of property casualty insurance sales and marketing operations. Delaney currently oversees field marketing representatives and agency relationships in Idaho, Iowa, Montana, Oregon, South Dakota and Washington. She began her insurance career in 1988 and joined the company in 1998. Since then, Delaney has held positions of increasing authority and responsibility in field sales and was appointed as an officer of Cincinnati Insurance earlier this year.

Johnston continued: "Steve is ready for this next challenge. Because he's been in leadership roles across our organization, Steve has a deep understanding of what it will take for us to succeed far into the future. I'm confident that under his direction our property casualty insurance team will continue to strengthen.

"Sean has been working closely with Steve to undertake a collaborative approach to underwriting both new and renewal commercial lines business. Because of that experience, he's uniquely qualified to continue building on those initiatives in his new leadership role in commercial lines.

"Angie has a keen understanding of the value that our field strategy brings to our independent agents through local decision making and services that augment the agent's ability to serve their best customers. She'll draw on her sales field experience to continuing building relationships and enthusiasm for our agency-centered model."

Johnston concluded: "Our leadership team aspires to heighten the company's competitive points of difference and to achieve industry-leading growth and profitability. Our foundation is strong, giving us every opportunity to keep building and adding value for our shareholders, agents, associates and policyholders."

Original source can be found here.

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