Exclusive: Hanover Insurance taps Zubretsky as new CEO - sources

Reuters News
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Posted: May 15, 2016 9:39 PM

(Reuters) - U.S. property and casualty insurance company Hanover Insurance Group Inc has hired former health insurer Aetna Inc chief financial officer Joseph Zubretsky as its new chief executive officer, people familiar with the matter said.

Zubretsky's appointment comes as the Worcester, Massachusetts-based company has been raising prices to maintain its profitability in the face of lower investment returns in its portfolio and a rise in claims in certain sectors.

Hanover Insurance could announce Zubretsky's new role as early as Monday, the people said on Sunday, asking not to be identified because the matter is still not public. Hanover Insurance offered no immediate comment.

(Reporting by Mike Stone in New York; Editing by Chris Reese)