Erie Indemnity Co., the managing company for Erie Insurance, has named Timothy G. NeCastro as Erie Insurance’s president and CEO-designate effective June 1.
NeCastro is a 20-year veteran of the company. He will succeed current President and CEO Terrence W. Cavanaugh, who previously announced his retirement for later this year.
NeCastro joined Erie Insurance in 1996 as manager of internal auditing and was promoted to senior vice president and controller in 1997. In 2008, he was named senior vice president of product and policy services, overseeing customer service, personal and commercial product development, and processing areas.
Since 2010, NeCastro has held the position of senior vice president and regional officer of Erie Insurance’s west region. This encompasses the sales and agency responsibilities in the western half of the insurer’s 12-state footprint. “This experience has given Tim a broad perspective on communities in other parts of the country, as well as the political and regulatory forces that affect our business,” said CEO Cavanaugh.
Prior to joining Erie, NeCastro held positions as director of finance at Plastek Group and as a senior manager at Ernst & Young.
Erie Insurance, based in Erie, Pa., is the 10th-largest homeowners insurer and 12th-largest auto insurer in the country based on direct premiums written and the 15th-largest property/casualty insurer based on total lines net premium written.