Argo Group International Holdings has hired Chubb and QBE North America veteran executive Jeff Grange in a leadership role.
Grange will serve as executive vice president for U.S. operations at the beleaguered specialty insurer. He’ll be in charge of Argo Casualty, Argo Pro, Argo Insurance, Rockwood and Argo Cyber. He will also be responsible for U.S. claims.
As well, Grange will report to the company’s Interim Chief Executive Officer Kevin Rehnberg, who took on the position after the abrupt “retirement” of longtime CEO Mark Watson III in early November. Watson departed after months of controversy over Argo’s alleged excessive corporate expenses including a corporate jet and luxury housing. Argo has denied all accusations regarding lavish spending, which were first raised earlier this year by activist shareholder Voce Capital Management LLC.
Grange comes to Argo with more than 25 years of insurance experience. He joined QBE North America in September 2013 as senior vice president for Management Liability & Professional Lines. In November of that same year he was promoted to president of Specialty Insurance, heading the company’s Accident & Health, Healthcare, Financial Institution, Aviation, Management Liability, Media & Entertainment, Professional Lines, Technology, Transaction Liability, Trade Credit, Political Risk and Surety businesses. In February 2014, he was appointed as the chairman of the Underwriting Committee for QBE North America.
Previously, Grange served as the chairman of the Group Underwriting Committee and Global Practice leader for Management Liability & Professional Lines at Torus Insurance. He also spent more than 21 years with the Chubb Group of Insurance Companies, where he was a senior vice president and worldwide manager for the professional liability businesses, which included the legal, technology, life sciences, media/entertainment, healthcare and financial institution customer segments.
Earlier this fall, Argo established a new reporting structure for U.S. operations led by three executive vice presidents, including Gary Grose and Tim Carter. Under the new reporting structure, the three newly appointed executive vice presidents including Grange report to Rehnberg, whose regular position is as group chief administrative officer and head of the Americas for Argo.
Argo is continuing to face plenty of issues in the wake of Voce’s activist movement, including a decision by the Securities and Exchange Commission to investigate the company’s disclosures about executive compensation.
Meanwhile, Voce is renewing its fight with the Argo board, calling for a special meeting of Argo shareholders to elect five independent board members.
Source: Argo Group
*A version of this story ran previously in our sister publication Insurance Journal.