Protective Insurance Corporation has revealed that its Board of Directors has appointed Jeremy D. Johnson as Chief Executive Officer (CEO), effective May 22nd, 2019.
The appointment sees Johnson become a member of the firm’s Board of Directors. He most recently served as President of US Commercial at AIG, and has also served as CEO and President of Lexington Insurance Company, AIG’s excess surplus lines division.
From 2000 – 2013, Johnson held a number of executive leadership positions at AIG, including Specialty Product Line Executive, U.S. & Canada and President of Cat Excess Liability, among others.
Prior to AIG, he worked as a broker for both Sedgwick and Marsh.
Johnson commented on his new role: “I’m excited to be joining Protective and looking forward to continuing improvements in our operational and financial performance.
“This is a challenging time for the commercial auto insurance sector, and it’s during challenging times that Protective, with our long history of providing commercial automobile insurance, can distinguish ourselves. By building on our successful heritage, I’m confident we will deliver positive outcomes for our insureds, our distribution partners and our investors.”
Jay Nichols, Protective’s Chairman of the Board, added: “We’re delighted that Jeremy will be joining our team to serve as our CEO. Jeremy’s more than 25 years of insurance industry experience, leading large teams and managing complex books of business, makes him an ideal leader for the team at Protective. His extensive background with commercial insurance risks, including commercial automobile coverages, will be invaluable for both our insureds and our broker partners.
“We look forward to benefiting from Jeremy’s leadership and expertise as Protective continues enabling commerce, providing recovery from unfortunate events, and saving lives by serving as a strong partner to our stakeholders in the transportation safety ecosystem.”
Protective has also announced that Stephen J. Gray has been appointed to its Board of Directors, effective immediately. Gray will become a member of the firm’s Investment Committee.
He brings more than 35 years of industry experience to the role, and has served as a consultant to, and Board member for SRC Holdings Corporation since 2008.
“Stephen will make a valuable contribution to our Board at this exciting time. Stephen has a unique understanding of the perspective of Protective’s many long-term shareholders, including members of the Shapiro family, and will ensure continuity of the stewardship that Nate, Bob, and the late Norton Shapiro have provided to Protective over the past 40 years,” said Nichols.
Lead Director, Stuart Bilton, added: “I join Jay in welcoming Jeremy and Stephen to Protective. The Board is delighted to have such experienced executives strengthening our Board and leading Protective into the future. The Board also thanks Jay for his service as Interim CEO. During his seven months as Interim CEO, Jay made a number of very meaningful contributions to Protective, including providing us the time to perform a thoughtful CEO search process, leading to Jeremy’s appointment as CEO.
“With Jay’s continuing guidance as Chairman of the Board, the support of the full Board of Directors, and Jeremy’s leadership as CEO, Protective has the talent we need to effectively serve all of our stakeholders.”