Capital Insurance Group (CIG),a regional property/casualty insurer serving the Western U.S., named L. Arnold Chatterton president and chief executive officer.
The board of directors decision and appointment follows Peter Cazzolla’s announcement that he would be retiring his leadership role after a 21-year tenure with the company.
As part of CIG’s succession program, Cazzolla will stay on in an advisory role to ensure a smooth transition.
During his 30 years in the property/casualty insurance industry, Chatterton has had a steady progression from frontline agency and underwriting positions to management and senior officer assignments with a leading Western regional and international insurance company.
Over the past twenty years, Capital Insurance Group has experienced substantial financial growth. When Cazzolla was selected to lead the firm in 1993, CIG was a small, regional insurance company with $103 million in written premium and $60 million in surplus.
Today, CIG is one of the premier regional companies in the West with more than $400 million in written premium and $300 million in policyholder surplus. Capital Insurance Group also expanded from California and Nevada to include Arizona, Oregon, Washington, Idaho and New Mexico. In addition, the company’s core product lines broadened, and its market capacity now includes non-admitted and captive alternatives.
Source: Capital Insurance Group
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