WORCESTER – The top administrator at Hanover Allowance Group Inc. is abrogation the aggregation afterwards beneath than two years in the job to advance a bloom insurer based in California.
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Joseph M. Zubretsky, 60, Hanover admiral and arch executive, will footfall down Nov. 3 to become president and CEO of Molina Healthcare Inc. of Long Beach, California.
He will be replaced by John C. Roche, 54, who has formed at Hanover back 2006 and best afresh has been in allegation of the insurer’s claimed and bartering allowance business.
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“Jack has been a key affiliate of our administration aggregation for abounding years,” Kevin Condron, Hanover chairman, said in a account release. “He has played a analytical role in the acknowledged amplification of our company, alive carefully with the lath and others, allowance to position the Hanover over the accomplished decade as the best accomplice for absolute agents and one of the actual best companies in our business.”
Before alive at Hanover, Mr. Roche formed for St. Paul Travelers Companies. He is a administrator of the National Council of Compensation Allowance and has a bachelor’s amount from the University of Connecticut, Hanover appear in a account release.
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Hanover is a acreage and blow insurer, alms allowance advantage for homes, cars, boats and added property. The aggregation acquaint net assets of $155.1 actor in 2016, bottomward from $331.5 actor in 2015.
Mr. Zubretsky took over as CEO in June 2016. He reorganized the company’s ranks of top executives, added $174 actor to affluence as a absorber adjoin claims and bargain about 160 jobs to cut expenses.
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At Molina Healthcare, Mr. Zubretsky will run a bloom insurer that is grappling with abbreviate margins and layoffs. With 4.7 million members and operations in 12 states and Puerto Rico, Molina Healthcare additionally has emerged as a cogent insurer in some accompaniment bloom exchanges under the Affordable Care Act, or Obamacare.
Mr. Zubretsky was appointed CEO at Hanover afterwards an all-encompassing chase for a new top controlling to replace Frederick H. Eppinger Jr., who had led Hanover for added than a decade. The insurer's lath absitively adjoin addition chase because it advised Mr. Roche the appropriate being for the job, a backer said.
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