The Hanover Insurance Group announced Tuesday that Michael D. Price has been elected to the company’s board of directors, effective July 3.

Michael D. Price

Price, a highly experienced senior insurance executive who previously served as president, chief executive officer and deputy chairman of Platinum Underwriters Holdings, Ltd., will serve on the audit committee of Worcester, Mass.-based holding company for several property and casualty insurance companies.

Price, who is also an actuary certified as a Fellow of the Casualty Actuarial Society, was CEO at Platinum from 2005 until RenaissanceRe Holdings acquired Platinum a decade later.

Prior to that, he served as Platinum’s chief operating officer, and was president of Platinum U.S. from 2002 until 2005.

Price was chief underwriting officer of Platinum’s predecessor, the former reinsurance segment of The St. Paul Companies, Inc. Before that he was COO of Associated Aviation Underwriters Incorporated, a subsidiary of Global Aerospace Underwriting Managers Ltd.

He began his career with the actuarial and consulting firm of Milliman & Robertson.

Source: The Hanover Insurance Group