Leadership shuffle at AEGIS as CEO steps down after 26 years
Mutual insurer AEGIS (Associated Electric & Gas Insurance Services) has appointed a new president and chief executive officer (CEO) as Bill Cullen (pictured) has decided to retire from the company after 26 years.
The company has promoted executive vice president and chief underwriter Bill Hillman to succeed Cullen from January 1, 2024. Cullen will remain on the board and Hillman will be elected as a director of the company.
Under Hillman’s leadership, property underwriting will be led by Tom Cain, who will be promoted to SVP head of property, casualty underwriting will be led by Martin Gaffney, who will be promoted to SVP head of casualty.
Cullen said: "With the Company in its strongest financial position ever and with a talented, tested leader ready to step in, the time is right for me to retire. I am very pleased that Bill Hillman will be my successor. I have worked with Bill for 25 years, first as an AEGIS reinsurance broker and for the last ten years as part of our senior management team. His demonstrated knowledge and experience in the energy and insurance industries will assure continued success for the Company."
Hillman said: "I am honored to have the opportunity to lead AEGIS. Throughout my 25 years of involvement with the Company, I have always been impressed with this truly unique and high-quality organisation. Joining AEGIS ten years ago further increased my appreciation of the Company's member focus and its commitment to its mission of serving the energy industry.”
He added: "Tom and Martin are demonstrated leaders and have strong underwriting teams supporting them. I have confidence in their continued success in their new roles."
Wes von Schack, AEGIS chairman, commented: "On behalf of the entire Board, I want to express our gratitude and appreciation for Bill Cullen's outstanding leadership and contributions to AEGIS. During his 20-year tenure as Chief Underwriting Officer and the past six years as President and Chief Executive Officer, Bill Cullen skillfully guided the Company through incredibly challenging periods in both the energy and insurance industries while delivering outstanding financial results. The Board could not be more pleased with the state of the Company and the smooth leadership transition from Bill Cullen to Bill Hillman. I am confident in the Company's continued success under Bill Hillman's leadership as President and CEO."
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