Patrick S. Brennan Joins Selective Insurance as CFO
Patrick S. Brennan Appointed CFO of Selective Insurance Group
Selective Insurance Group, Inc. (NASDAQ: SIGI) is thrilled to announce the recent appointment of Patrick S. Brennan as its new Chief Financial Officer. This strategic move, which takes effect on a forthcoming date, aims to bolster the company's financial leadership and further strengthen its commitment to excellence in the insurance sector.
Experience in the Insurance Industry
Patrick S. Brennan arrives at Selective with an impressive background, accumulating nearly twenty years of experience within the insurance industry. His most recent role was as Treasurer at The Progressive Corporation, where he skillfully oversaw critical financial operations including treasury management, capital strategy, risk management, and investor relations.
John J. Marchioni, the Chairman, President, and Chief Executive Officer of Selective, expressed immense enthusiasm about bringing Patrick on board. Marchioni remarked on the value of having a CFO with Brennan's extensive expertise in corporate finance and insurance. He believes that Brennan's background equips him to effectively manage the financial ambitions that align with Selective's long-term objectives.
Commitment to Growth and Value Creation
Brennan shared his excitement in joining Selective, viewing it as an honor to lead the finance organization. His experience predominantly within the insurance sector aligns perfectly with Selective’s mission, and he is looking forward to collaborating closely with Marchioni and the entire leadership team. Brennan aims to build further on Selective’s robust foundation for ongoing profitability and growth, fostering value creation in the process.
Following Brennan’s appointment, Tony Harnett will maintain his role as Selective's Senior Vice President and Chief Accounting Officer. Marchioni took a moment to acknowledge Harnett's interim leadership, expressing gratitude for his invaluable support during the transition period.
A Closer Look at Patrick S. Brennan
Before venturing into Selective Insurance, Patrick Brennan accumulated considerable experience at The Progressive Corporation, where he dedicated 18 years to various roles. For the last eight years, he served as Treasurer, honing his skills in treasury functions, capital strategies, and overall risk management. Furthermore, Brennan has a background as Commercial Lines Product Manager, where he managed several key states and engaged in strategic roles focused on specific customer verticals.
Prior to his tenure at Progressive, Brennan contributed to IBM Corporation's Treasury department, where he was involved in funding strategies and foreign exchange operations. He holds a Bachelor of Science degree in Mathematics and an MBA from the esteemed University of Notre Dame.
Selective Insurance Group's Reputation and Impact
Selective Insurance Group, Inc. (NASDAQ: SIGI) stands as a prominent holding company representing ten property and casualty insurance companies, all distinguished by their “A+” (Superior) ratings from AM Best. The company provides a range of standard and specialty insurance products for both commercial and personal risks, including flood insurance through the National Flood Insurance Program's Write Your Own Program.
Achievements and Recognitions
The unique positioning of Selective as a leading insurance group, coupled with its reputation as an employer of choice, is recognized through numerous awards and accolades. Notably, Selective earned a spot in Forbes' Best Midsize Employers for the year and has received certification as a Great Place to Work for five consecutive years. These recognitions underscore the company’s commitment to fostering a supportive workplace culture while delivering high-quality insurance services.
Frequently Asked Questions
What prompted Selective Insurance to appoint Patrick S. Brennan as CFO?
Selective Insurance aims to enhance its financial leadership with Patrick S. Brennan's extensive experience in the insurance sector and corporate finance.
What key experience does Patrick S. Brennan bring to Selective Insurance?
Brennan has nearly two decades of experience in the insurance industry, including a significant role as Treasurer at The Progressive Corporation.
How is Selective Insurance recognized in the industry?
Selective Insurance is recognized for its “A+” ratings from AM Best and has received accolades from Forbes as one of the Best Midsize Employers.
What will Tony Harnett's role be after Brennan's appointment?
Tony Harnett will continue in his capacity as Senior Vice President and Chief Accounting Officer after Brennan takes on the CFO role.
What educational background does Patrick S. Brennan have?
Patrick S. Brennan holds a Bachelor of Science degree in Mathematics and an MBA from the University of Notre Dame.
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