Travelers appoints business CEO

US insurer Travelers has made a number of new appointments following the departure of Bill Cunningham, who served as executive vice president, business insurance.

Alan Schnitzer has been promoted to vice chairman and chief executive officer (CEO) of business and international insurance.

Schnitzer will maintain oversight of field management, corporate communications and public policy.

Doreen Spadorcia has been promoted to vice chairman and CEO of personal insurance and bond and financial products, effective July 1, 2014.

Spadorcia will maintain oversight of claim, risk control, analytics, marketing, operations, ebusiness, technology and special liability group.

In these roles, both executives will report to Brian MacLean, Travelers president and chief operating officer.

In connection with these promotions, the company will report its results through the following three business segments: business and international insurance, personal insurance and bond and financial products.

Jay Fishman, Travelers chairman and CEO, said: “We are very pleased to recognise Alan’s and Doreen’s leadership and effectiveness through these promotions. They have both demonstrated exceptional management skills, judgment and dedication, and our company has benefitted tremendously from their efforts. Their expanded responsibilities will enable them to play even greater roles in the future success of our organisation.

“Bill has been a great asset to the organization and a big reason why Business Insurance is a market leader in the United States today. We would like to thank him for his many significant contributions over his nearly three decades at Travelers and wish him well in his new endeavours.”

MacLean added: “We believe these changes will enhance our organisational structure. I look forward to working closely with Alan and Doreen to move our business forward and build on our company’s leadership position.”