The Hanover Insurance Group, Inc. Elects Elizabeth A. Ward to Board of Directors
The Hanover Insurance Group (NYSE: THG) has appointed Elizabeth A. Ward to its board of directors, effective immediately. Ward, 57, is the Chief Financial Officer at Massachusetts Mutual Life Insurance Company since June 2016 and brings extensive experience in risk management and finance from her previous roles. She has also held significant positions in investment portfolio management. The board's chair praised her broad knowledge of the financial services sector, highlighting her ability to navigate industry challenges. Ward's election aligns with Hanover's strategy to enhance its leadership and governance.
- Elizabeth A. Ward's extensive experience in financial services is expected to bring fresh perspectives to the board.
- Her previous roles in risk management and finance may strengthen the company's governance.
- No previous experience on Hanover's board could raise concerns about continuity and integration in strategic decisions.
WORCESTER, Mass., July 19, 2022 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced Elizabeth A. Ward has been elected to the company's board of directors, effective immediately, and has been appointed to serve on the board's audit committee.
Ward, 57, has served as Chief Financial Officer of Massachusetts Mutual Life Insurance Company ("MassMutual"), a mutual life insurance company, since June 2016. She previously served as Executive Vice President and Chief Actuary of MassMutual from June 2015 to November 2019, and as Chief Enterprise Risk Officer from November 2007 to May 2016. Prior to joining MassMutual affiliate Babson Capital Management in 2001, Ward worked in investment portfolio management and actuarial roles at American Skandia Life Assurance Company, Charter Oak Capital Management and Aeltus Investment Management, a subsidiary of Aetna Life & Casualty Company.
"Betsy is an accomplished senior executive with broad experience working in the financial services sector," said Cynthia L. Egan, Chair of the Board of Directors at The Hanover. "She brings a vast knowledge of the opportunities and challenges impacting our industry today. We are pleased to welcome Betsy to our board."
Ward received a bachelor's degree in economics and Spanish from the University of Rochester and is a Fellow of the Society of Actuaries. She holds a Professional Risk Manager designation from the Professional Risk Managers' International Association, and is a Member of the American Academy of Actuaries. She currently serves on the Federal Advisory Council on Insurance to the Federal Insurance Office of the U.S. Treasury and has led several other industry groups in insurance and risk management. Active in her community and with not-for-profits, Ward is a Trustee on the Board of Trustees at the University of Rochester in New York and a Trustee on the board of the Community Music School of Springfield in Springfield, Mass.
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.
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SOURCE The Hanover Insurance Group, Inc.
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