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White Mountains Announces Appointments
Lon Smith is the retired Vice Chairman of The Hartford Financial Services Group and President and CEO of Hartford Life Insurance Company. During his tenure, Hartford Life grew to be one of the largest and most profitable life insurance companies in the United States.
CEO Ray Barrette said, "I am pleased to welcome Lon to our Board. His solid track record in the life insurance and annuity business and his knowledge of property and casualty insurance add a lot of value to our Company."
Allan Waters is the Founder and Managing Member of Mulherrin Capital Advisors, LLC, a financial services consulting firm, with primary emphasis on the property and casualty insurance business. Allan was formerly the Chief Financial Officer of the Company, a position he held until 1997.
Barrette added, "Allan is an old and trusted friend who knows our Company and our businesses well. His experience, judgment and independence of thought are important qualities we welcome as we bring in a new generation of directors."
The Board also announced the election of George J. Gillespie III as non-executive Chairman effective immediately. Jack Byrne was elected Chairman of the Executive Committee.
Jack Byrne said, "The Company, under Ray Barrette's and John Gillespie's partnership, is in capable hands and running smoothly. The transition of your Company to a younger generation continues. Ray became CEO on January 1 and the next step in this process is my relinquishing the Chairman's duties and bringing on two new directors."
Byrne continued, "George Gillespie has been a trusted partner and a director of the Company for almost 20 years. He has been at my side through all the twists and turns as we remade ourselves several times, all to the great benefit of our owners. George is well respected by our owners and by the Board and will make a strong Chairman."