Mr. Eppinger has lead the Worcester-based insurer for the last 12 years
Frederick H. Eppinger has announced his plans to step down as the president, chief executive officer, and a director of The Hanover Insurance Group in 2016. According to announcement from The Hanover, Mr. Eppinger will continue to serve in his current role until a successor has been selected and appointed and will assist with the transition to a new head of the company until June 30, 2016. The Hanover has already begun a search to find a replacement for Mr. Eppinger.
After 12 years of tremendous progress, with the company stronger and better positioned than ever, and with a history of substantial shareholder returns,” Eppinger said, “I have decided that it is time for a new leader to step in and work with our talented management team and all of our talented employees to take our company to the next level. I look forward to new professional opportunities, to spending some extra time with my family, and to pursuing some personal interests.”
Mr. Eppinger, 56, first joined The Hanover in August of 2003 from The Hartford Financial Services Group, Inc. where he was the Executive Vice President of Property and Casualty Field and Service Operations. Prior to that he served from 2000 to 2001 as a Senior Vice President of Strategic Marketing with ChannelPoint, Inc. Earlier in his career, Mr. Eppinger spent 15 years with the international consulting firm of McKinsey & Company where he served as a Senior Vice President in charge of leading the consulting firms insurance practice. He first began his career as an accountant, working for the accounting firm of Coopers & Lybrand (now PricewaterhouseCoopers).
During his tenure with The Hanover, Mr. Eppinger helped transform the Worcester-based insurer from a regional carrier to a nationally regarded property and casualty carrier with a global reach. Aside from doubling in size, Mr. Eppinger also help guide The Hanover to become a leading provider of personal, commercial, and specialty insurance lines in the United States via its network of independent insurance agents which has resulted in the insurer’s significant growth in total capital, book value, and earnings power.
“Fred made extraordinary contributions to The Hanover during what was a critical period and he has positioned our company for the future with a distinctive strategy and distribution platform, a highly experienced team, and a growing global presence,” said Michael P. Angelini, chairman of the board at The Hanover. “We appreciate all that Fred has done for our organization and wish him all the best. We remain confident in our ability to achieve our financial goals as we continue to deliver value to all of our constituents,” Angelini said.