Specialty insurer ProAssurance has announced that its President and Chief Operating Officer (COO), Edward Rand, is to succeed W. Stancil Starnes as Chief Executive Officer (CEO), effective July 1st, 2019.
On this data, Starnes will have served as CEO of the firm for twelve years, and will transition into the role of Executive Chairman of the Board.
“Ned Rand stands out as one of the most talented business executives with whom I have ever worked. He has been instrumental in developing the strategic vision for ProAssurance. His grasp of our business, his engagement with our workforce and distribution partners, and his vision for the Company’s long-term success gives me great confidence in the future of ProAssurance.
“I look forward to working with him and the Board, and seeing the new heights to which ProAssurance will ascend,” said Starnes.
Under Starnes’ leadership, the firm expanded from a regional, monoline insurer into a global specialty insurer, operating in all 50 states and with two international operations.
Commenting on his appointment, Rand said: “I am honored to succeed Stan as CEO. With the strong foundation that has been built under Stan’s leadership, ProAssurance is extremely well positioned for success. I look forward to working with Stan and everyone at ProAssurance as we deliver on the promise of Treated Fairly and continue with the legacy that Stan has established.”
