ProMutual Group President and CEO Richard W. Brewer to Retire at End of Year
- April 4, 2011 - Boston, MA – ProMutual Group, a leading provider of medical professional liability insurance, announces that President and CEO Richard W. Brewer will retire on December 31, 2011. On the date of his retirement, Mr. Brewer will have served in this role for 11 years. The ProMutual Group Board of Directors will conduct a search for a new president and CEO, with the timing of Mr. Brewer’s announcement allowing for a process of orderly succession.
“It has been an honor to serve as president and chief executive officer for ProMutual Group over the past ten years,” said Richard W. Brewer, president and CEO of ProMutual Group. “I feel fortunate to have been here during a time that allowed for successful and profitable expansion. I am grateful to the ProMutual Group staff, insureds and agents for their commitment, as the company’s success during my tenure has certainly been the result of a team effort.”
Mr. Brewer joined ProMutual Group in January of 2001, when the company predominantly wrote business in Massachusetts. He helped lead the transition of ProMutual Group into a larger, multi-regional company, particularly with the acquisition of FinCor Holdings, Inc. (“FinCor”) in August of 2009, which doubled the number of states in which the company writes business. Throughout Mr. Brewer’s tenure, the company also moved in rank from eleventh largest medical professional liability insurer in the country to seventh; as well as into the top three in surplus and assets. ProMutual Group is now a coast-to-coast company with a significantly increased presence in the hospital market.
“I speak for myself and the entire Board when I say it has been a distinct pleasure both personally and professionally to have been associated with Mr. Brewer and to have had him as our chief executive officer over the last decade,” said Kenneth A. Heisler, M.D., FACS, chairman of the Board of Directors for ProMutual Group. “During Mr. Brewer's tenure he has guided ProMutual through important changes in the industry and a major acquisition. He has accomplished this with a resolute commitment to ProMutual's principle of measured profitable growth as the best assurance for our policyholders that a strong company will be there for them now and throughout their professional lives. Mr. Brewer's wisdom, integrity and leadership are reflected in his superb executive team here at ProMutual and ought to be seen as a model for the entire industry. We wish him the best of success and happiness in his future endeavors.”
Prior to his time at ProMutual Group, Mr. Brewer was president and CEO of Arbella Mutual Insurance Company. He was named the 2009 Insurance Professional of the Year by the Insurance Library Association of Boston and also received the Probus Award for Community Service in 2000 from Work, Inc. which recognizes recipients for assisting and supporting individuals with disabilities. He is a member of the Massachusetts Insurance Federation and serves on the board of trustees for the American Institute for Economic Research in Great Barrington, Mass. Mr. Brewer plans to remain active in industry affairs following his retirement from ProMutual Group.
About ProMutual Group
ProMutual Group is one of the top 10 medical professional liability insurance providers in the country based on direct written premium. ProMutual Group member companies insure more than 20,000 physicians, surgeons, dentists, certified nurse midwives and allied healthcare providers as well as nearly 500 hospitals, health centers and clinics in 22 states from coast to coast. ProMutual Group has net admitted assets in excess of $3.0 billion as of December 31, 2010. ProMutual Group member companies Medical Professional Mutual Insurance Company, ProSelect Insurance Company and MHA Insurance Company have a Best’s Rating of A- (Excellent) and Washington Casualty Company has a Best’s Rating of B+ (Good). ProMutual Group is acknowledged as a leader in providing risk management and claim services to the healthcare community, and it offers risk management consultations and educational activities at cost to healthcare providers across the country. For more information, visit ProMutual Group’s website at www.promutualgroup.com.