WORCESTER, Mass., Feb. 24, 2020 /PRNewswire/ -- The Hanover Insurance Group, Inc. /zigman2/quotes/204392149/composite THG -2.52% today announced Cynthia L. Egan has been elected vice chair of the company's board of directors and Martin P. Hughes has been elected to the board. Egan was elected vice chair with the expectation she will become board chair in May 2021, following the mandatory retirement of current board chair P. Kevin Condron, in accordance with board policy.
"Cynthia has served our board and our company with distinction since 2015," said Condron. "Her election as vice chair is a reflection of the confidence our board has in her and is intended to ensure a smooth and orderly transition to a new independent chair."
Egan was president of retirement plan services for T. Rowe Price Group, a global investment management organization, from 2007 until her retirement in 2012. Before joining T. Rowe Price, she held senior positions with Fidelity Investments, a multinational financial services corporation, from 1989 to 2007, including executive vice president, head of Fidelity's Institutional Services Company, president of the Fidelity Charitable Gift Fund, and executive vice president of Fidelity Management Research Co. Egan is a director of UNUM Corporation /zigman2/quotes/208720096/composite UNM -4.84% and the BlackRock Fixed Income Funds Complex, as well as chair of the board of visitors of the University of Maryland School of Medicine.
Hughes has more than 40 years of experience in the insurance brokerage industry. He currently serves as non-executive chair of the board of directors of HUB International, a privately held insurance brokerage firm that provides an array of property, casualty, risk management, life and health, employee benefits, investment, and wealth management products and services across North America.
"Marty is a highly experienced insurance executive with a broad and deep understanding of our business and an impressive record of accomplishment," said Condron. "He brings a unique perspective, formed through his experiences on the front lines of our business and ultimately as the leader of one of our industry's largest and most successful brokerage firms. We are pleased to have Marty join our board."
Hughes began his career in 1973 as a producer at Mack and Parker, Inc., an independent insurance agency (now part of HUB), where he later served as president from 1990 to 1999, and as chair from 1999 to 2001. He subsequently rose to the position of chair and chief executive officer of HUB International, serving in that capacity from 1999 to 2018, including while it was a public, New York Stock Exchange-listed company, before its sale to private investors. Hughes led the firm through a period of strong growth. He also has served as chair of both the Council of Insurance Agents & Brokers, an association of the top commercial insurance and employee benefits intermediaries, as well as Assurex Global, a leading worldwide insurance services organization.
Separately, The Hanover announced Michael D. Price resigned as a director of the board for personal reasons, effective at the company's annual meeting of shareholders, to be held May 12, 2020.
About The Hanover The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agents, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.
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SOURCE The Hanover Insurance Group, Inc.
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