NOVATO -- Fireman's Fund Insurance Company today named Andrew Torrance as its new president and chief executive officer.
[caption id="attachment_75082" align="alignright" width="269"] Andrew Torrance[/caption]
Mr. Torrance will assume his new role later this summer, according to the Novato-based insurer. He is the fifth executive at Fireman’s Fund since 2007.
The previous top executive, Lori Fouche, left for Prudential Financial Inc., according to the trade publication Insurance Journal. She was promoted to CEO two years ago, filling a vacancy left by Michael LaRocco.
Most recently, Mr. Torrance, who has over 30 experience in the insurance industry, served as CEO of Allianz UK, a larger general insurer and part of the Allianz SE Group, the parent company of Fireman's Fund and one of the largest property-casualty carriers in the world. Before that, Mr. Torrance was director and head of the Allianz broker division. He's also held senior and board positions at consulting firms and insurers, including London & Edinburgh and Boston Consulting Group.
His appointment needs to be approved by the board of directors of Fireman's Fund Insurance Company.
“I’d like to thank Lori for her contributions and welcome Andrew to Fireman’s Fund,” said Gary Bhojwani, chairman of Fireman’s Fund and an Allianz SE board member, in a statement. “I am confident that Andrew will successfully lead Fireman’s Fund to become an expert provider of specialized insurance solutions. He has a track record of executing on established priorities and delivering consistent profitability in a challenging business environment during his 14-year career at Allianz.”
Mr. Torrance holds a degree in theoretical physics from the University of Cambridge and a master’s degree from the London Business School.