Atlantic Mutual Announces Management Changes

June 14, 2004

The Board of Directors of Atlantic Mutual announced that Daniel H. Olmsted has been promoted to President and has been named a member of the Board of Trustees.

The Board also named Richard J. Hertling as Executive Vice President and Chief Financial Officer; Martha Van Hise as Vice President of Human Resources, and John K. Shea as Vice President of Commercial Claims.

“I am delighted with the new management team at Atlantic Mutual,” commented Chairman and CEO Klaus Dorfi. “In particular, the promotions of Dan Olmsted and Rich Hertling reflect their tremendous contributions as we restructured the company to become a well-capitalized writer of affluent personal lines business. They will be a driving force in the company as we move forward.”

Olmsted joined the company in 1984 and was most recently Senior VP of the Personal Insurance Division. He has earned a CPCU designation, a MBA from the College of Insurance, and a JD from Fordham University.

Hertling has been serving as CFO since his appointment in September, 2003. His promotion from Senior VP to Executive VP “reflects the senior management role he now plays in the company,” said the bulletin. He joined Atlantic Mutual in 1979 and has a BS in mathematics from York College. He was accepted as a Fellow of the Casualty Actuarial Society in 1990.

Van Hise joined Atlantic Mutual in 1999 with 20 years of experience in human resources. She will assume full responsibility for human resources and compensation & benefits. She has a BA in political science from Bucknell University and a MBA in quantitative techniques from Fairleigh Dickenson University in N.J.

The announcement noted that with the “appointment of John Shea as Vice President of Commercial Claims, the Board approved the restructuring of the Claims organization around the critical tasks of running off commercial claims and further enhancing claims service for personal lines.”

Shea will officially join Atlantic Mutual on June 14, 2004. He has nearly 30 years of experience in claims, “including time as President and COO of a prominent TPA, loss adjusting and case management company,” said the announcement. “His appointment gives Atlantic Mutual a proven leader who can manage complex commercial claims in a run-off situation, and it frees Bill Bernecker, VP of Claims, to concentrate more fully on personal lines.” Shea has a BA from Keene State College in New Hampshire.

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