The Hanover Announces CEO Succession Plan; Roche to Retire at End of 2026

The Hanover Insurance Group announced that John C. Roche, president and chief executive officer, plans to retire on Dec. 31 following a distinguished 40-year career in the insurance industry.

Richard W. Lavey, chief operating officer of The Hanover and president of Hanover Agency Markets, has been appointed by the board as CEO-elect and will work closely with Roche to ensure a successful transition.

Roche joined The Hanover in 2006 and was appointed president and CEO in 2017. The Hanover said that under Roche’s leadership, the company achieved record operating earnings, outstanding stock price appreciation and strengthened its position as a premier property/casualty company in the independent agency channel.

In addition to his responsibilities at The Hanover, 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.

“I will retire at the end of the year with tremendous pride in all our organization has accomplished,” Roche said in a statement. “The company is in a strong financial position and has the exceptional talent needed to drive our business forward. Having worked closely with Dick [Lavey] 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.”

Lavey joined The Hanover in 2004 and held a series of executive leadership positions over his 22-year tenure. He currently serves as COO, directing the strategic transformation of the company’s operating model and 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. Earlier in his tenure, he served as chief marketing officer, chief growth innovation officer, president of personal lines and president of the organization’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 recently served as chairman of the board for the National Council on Compensation Insurance (NCCI).