The Hanover Insurance Group, Inc., a property and casualty insurer, has appointed Richard W. Lavey, current Chief Operating Officer (COO) and President of Hanover Agency Markets, as Chief Executive Officer-elect as John C. Roche announces his intention to retire on December 31st, 2026.
Roche, who has a 40-year career in the insurance industry, currently serves as President and CEO of the company, and will work closely with Lavey to ensure a successful transition.
Cynthia L. Egan, Chair, Board of The Hanover, commented, “The Board of Directors is deeply grateful to Jack for his outstanding leadership and the significant impact he’s made to The Hanover. He has driven progress in every dimension of the company, not the least of which is working closely with the board and with Dick to ensure that we have an exceptional CEO to elevate the company to its next level.”
Lavey has been with the insurer since 2004 and held a series of executive leadership positions over his 22-year tenure. In his current position he drives the strategy of the company’s operating model, augmenting the partnership between its business and technology functions.
In his role as president of Hanover Agency Markets, Lavey leads the growth and performance of core commercial and personal lines. In the past, he has also served as Chief Marketing Officer, Chief Growth Innovation Officer, President of personal lines, and President of the carrier’s northeast region, among other key positions.
Prior to The Hanover, Lavey held leadership roles in sales, distribution, marketing and strategy at a number of insurance and technology companies, including The Hartford and The Travelers Insurance Company. He has also recently served as Chairman of the board for the National Council on Compensation Insurance (NCCI).
Roche has been with The Hanover since 2006 and was appointed President and CEO in 2017. Under his leadership, the insurer achieved record operating earnings, outstanding stock price appreciation and strengthened its position as a premier property and casualty company in the independent agency channel.
Additionally, Roche serves the insurance industry as Vice Chair of the board of trustees for The Institutes, a member of the board of directors for the American Property Casualty Insurance Association, and as a member of the board of overseers of St. John’s University Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science.
Roche said, “I will retire at the end of the year with tremendous pride in all our organization has accomplished. The company is in a strong financial position and has the exceptional talent needed to drive our business forward.
“Having worked closely with Dick for more than two decades, I have complete confidence in his leadership and his ability to guide our company forward. Together, we will ensure a seamless and successful transition.”
Egan added, “Dick is an accomplished executive whose deep experience spans the insurance and technology industries. His impressive contributions have been central in the successful expansion of the company’s strategy, shaping The Hanover into a leading partner for independent agents and a top-performing company.
“From repositioning the firm’s personal and core commercial lines growth and profitability to his critical leadership in driving technology advancements, Dick has the insight, strategic vision and passion to lead the company through the next chapter of its remarkable journey.”
Lavey said, “I am honoured to lead our organization at such a transformative time in our business. I am energized to continue our momentum to accelerate growth, drive performance and deliver lasting value for our stakeholders.”
