Former AIG executive Jeremy Johnson recently became the new CEO of Protective Insurance Corp, an insurer focused on commercial auto insurance and workers compensation coverage.
Johnson took on the new position in late May. He’ll also serve on the insurer’s board of directors, and his first major public presentation as the insurer’s new leader will be on Aug. 7, 2019 during Protective’s 2019 second-quarter earnings investor call.
Commercial auto insurance coverage has been a tough sell in recent years, producing high industry losses. Protective, an Indiana-based insurer, reported a 108 combined ratio in the 2019 first quarter versus 99.8 in Q1 2018, driven by a jump in the current accident-year loss ratio relating to severe commercial automobile losses.
Protective markets and underwrites property, liability and workers comp coverage for trucking and commercial automobile fleets, plus coverage for trucking industry independent contractors, along with a separate workers comp business.
At AIG proper, Johnson also served as chief executive officer and president of Lexington Insurance Company, AIG’s excess and surplus lines unit, from February 2013 to December 2017. Johnson served in various executive leadership roles at AIG between 2000 and 2013, including Specialty Product line executive, U.S. & Canada; president of Cat Excess Liability; U.S. executive for Energy Excess Casualty; and regional vice president for the Mid-Atlantic territory.
Before joining AIG, Johnson was a broker for Sedgwick Inc. and Marsh Inc. He has more than 25 years of insurance industry experience.
Protective’s board chairman and interim CEO Jay Nichols remains as chairman to provide continuity during the leadership transition and partnering on strategic initiatives related to innovation for commercial auto risk management.
Source: Protective Insurance