The senior vice president of commercial lines at The Cincinnati Insurance Company, Charles (Bud) Stoneburner II, is set to retire within the next six months, as the company proceeds with its transition plan announced in November.
Stoneburner has more than 35 years of experience within The Cincinnati Insurance Company, having joined in 1980 as a field claims representative, serving agents and policyholders in Norther Virginia.
In 2008 he shifted his focus to underwriting, taking the lead of the company’s commercial lines operation.
His successor, Stephen Spray, will manage the operations of the commercial lines department on October 1 onwards, as Stoneburner will continue in an executive role until his retirement.
After advancing through the ranks of the claims department to lead the company's field claims division, he shifted his focus to underwriting in 2008, taking the lead of the company's commercial lines operation. As previously announced, Stephen M. Spray, senior vice president, will be the next head of Cincinnati's commercial lines.
"Bud is a thoughtful and determined leader. He has a sterling reputation with agents and associates built through more than 35 years of service to our company. His talents are evident in our outstanding commercial lines results,” commented Jacob Scherer, executive vice president and chief insurance officer.
Steven Johnston, president and chief executive officer added: "Since January, Bud and Steve have worked together to prepare for a smooth transition. I'm pleased that we were able to establish a perpetuation plan and carry it out in the normal course of business. This measured approach reflects our culture of stability, ensuring continuity of service to our agents and their clients."
Cincinnati Insurance Company, Retirement, Charles Stoneburner II, Commercial, North America, Insurance