W.R. Berkley Corp. appointed a new chief financial officer and another senior executive. At Travelers, one senior executive got a promotion and another longtime leader retired.
W.R. Berkley Corp. appointed two new senior executives including its latest chief financial officer.
Richard Baio has been named senior vice president and chief financial officer, after most recently serving as vice president and treasurer. Baio replaces Eugene Ballard, an executive vice president who will continue to oversee finance, actuarial and data management departments.
In his new role, Baio will handle financial and treasury functions of W.R. Berkley and report to Ballard. Baio has more than 25 years of experience in the insurance and financial services industry. Before joining W.R. Berkley, he was a director in Merrill Lynch & Co.’s financial institutions investment banking department, and a partner in Ernst & Young’s insurance practice.
Separately, Andrea Kanefsky has been named vice president-corporate controller. She succeeds Clement Patafio, who oversees W.R. Berkley’s financial shared services team and related data management.
Kanefsky has been with W.R. Berkley since 2013, when she joined its operating unit, Clermont Specialty Managers, as senior vice president and chief financial officer. In her new role, Kanefsky will handle financial reporting and related accounting activities and report to Baio.
Kanefsky has more than 30 years of experience in the property/casualty insurance industry.
The Travelers Companies Inc. promoted a long-time executive, and another has retired.
Greg Toczydlowski is the new president of Business Insurance at the property/casualty insurance giant. Most recently, he was executive vice president and president, Small Commercial, Business Insurance Technology and Operations. He’s been with Travelers since 1990, and has held a number of positions in systems, finance, underwriting, product, marketing and business development.
Separately, Doreen Spadorcia, vice chairman, Technology, Claims Services, Operations and Risk Control, and CEO of Personal Insurance and Bond & Specialty Insurance, is retiring after 30 years of service as of Sept. 1.
Beyond her other titles, Spadorcia also has oversight of Analytics, Customer Experience, Marketing, EBusiness and Special Liability Group.
Spadorcia has led several businesses and initiatives since joining Travelers, and has been a member of the Management Committee Since 2005, when she became head of Claim Services. She’s also served as a director of the Travelers Foundation.
Sources: W.R. Berkley Corp, Travelers