Westfield Enters Specialty Insurance Business
Westfield, a super-regional property and casualty insurance company with a 173-year history, is entering the specialty insurance business with the launch of Westfield Specialty. To lead this new business, Westfield has appointed insurance veteran Jack Kuhn as President.
Current market conditions coupled with Westfield's financial strength, AM Best "A" rating and well-established brand drove the decision to enter this market. This endeavor will create additional opportunities to profitably grow new customers and strengthen relationships with existing customers. It will also enhance the financial diversification of Westfield's property and casualty portfolio.
"The strength of our corporate financial position combined with our ability to move quickly and invest in this opportunity positions us to be an even stronger player in the P&C market," said Ed Largent, Westfield President, CEO and Board Chair. "Our expectation is to methodically enter lines of business where we can attract top talent and grow profitably."
Throughout his career, Kuhn has successfully built and scald insurance businesses multiple times. He has been responsible for U.S. and global insurance portfolios of more than $6 billion in premiums across the various executive leadership roles he's held within the insurance industry.
"Hiring the right leader was paramount," Largent commented. "Jack is a veteran, experienced insurance leader ready to launch a successful specialty business at Westfield. He is highly respected throughout the insurance and reinsurance industry and has a strong talent network to tap into as he builds his team."
"I am excited about the opportunity to establish a broad and diverse portfolio of specialty business through deep relationships and expertise," said Kuhn. "We're building something that will stand the test of time."
Over its 173-year history, Westfield's business has been built by successfully entering new markets. "Westfield Specialty will allow us to bring even more value to customers as we broaden our presence in the P&C marketplace," added Largent.
Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation's leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers' lives. Learn more about Westfield at www.westfieldinsurance.com.