Hanover Insurance Taps Aetna’s Zubretsky to Replace Eppinger as CEO

The Hanover Insurance Group today announced that it has named Joseph M. Zubretsky president, chief executive officer, and director effective June 20. He succeeds Frederick H. Eppinger, who last fall announced his intention to retire.

Zubretsky, 59, has 35 years of experience in the insurance and financial services industries. He joins The Hanover after almost nine years at Aetna, where he served most recently as chief executive officer at Healthagen Holdings, a group of healthcare services and information technology companies, and a member of Aetna’s executive committee. Prior to that, he was senior executive vice president leading National Businesses, a $10 billion Aetna flagship business that provides health solutions to multi-national companies, and Aetna’s executive vice president and chief financial officer.

Michael P. Angelini, chairman of The Hanover’s board of directors, said Zubretsky brings “broad insurance experience, a deep understanding of the independent agency distribution channel, a strategic orientation, risk management expertise, and an impressive record of building market-leading companies.”

Angelini had high praise for the outgoing CEO, Eppinger. “To call Fred’s service to The Hanover exceptional is to understate it. He inherited a smaller, regional company and led its transformation over 13 years into a respected, leading national carrier with international capabilities, inspiring many and creating tremendous shareholder value. This is a success story of the highest order,” he said.

“I am very proud of all that our talented and dedicated team has achieved, creating an organization that is recognized as one of the best in our industry,” Eppinger said.

Zubretsky joined Aetna from Unum Group, where he was senior executive vice president, responsible for the company’s finance, investments, marketing, strategy and risk operations, from 2005 to 2007. Previously, he was a partner at the global private equity firm of Brera Capital Partners and executive vice president of business development and chief financial officer at MassMutual Financial Group. He began his career as an accountant at Coopers & Lybrand, becoming partner of its National Insurance Industry Group.

The Hanover Insurance Group, Inc., based in Worcester, Mass., is the holding company for several property/casualty insurance companies. Through its international member company, Chaucer, The Hanover also underwrites business at Lloyd’s of London.

Related:

• 160-Year Old Hanover Retaking Its Place as P/C Industry Leader

[Editor’s Note: In a 2012 interview with Insurance Journal’s Andy Simpson, Eppinger discusses among other issues Hanover’s history, its recent acquisitions, his company’s regional approach, his appreciation for independent agents, and whether the late Steve Jobs of Apple would have made it in the property/casualty insurance business.]