Sept. 2, 2011
Media Contact: Elizabeth Hammond, 803-264-4626
Note to editors: Photo available
S.C. BlueCross Names Industry Leader To Head Companion Property & Casualty Group
Columbia, S.C. – BlueCross BlueShield of South Carolina announces the appointment of insurance industry leader George P. Reeth as president of Companion Property & Casualty Insurance Group, one of the larger subsidiaries in BlueCross’ group of companies.
Reeth has more than 30 years’ experience in the insurance and reinsurance industry, most recently as a founder in 2005 of Validus Holdings Ltd., (NYSE:VR), one of the top global reinsurance companies. He served as president and deputy chairman of the board of directors.
He was a senior executive with Willis Group Ltd. in 1992-2005 and was appointed to its board in 2004. He was chairman and chief executive officer of North American Reinsurance Operations for Willis Re Inc. in 2000-2005.
Other leadership positions Reeth has held include executive vice president at Wilcox Inc., and senior vice president of EW Payne North America.
"George Reeth is an industry leader and will be a great fit for growth of Companion Property & Casualty," said BlueCross President and CEO David Pankau. "His experience, coupled with Companion’s excellent rating from A.M. Best and its exceptional network of partner agents across the country, positions Companion for a winning future."
Reeth replaces Charles M. "Charley" Potok, who helped create Companion Property & Casualty Insurance Group and oversaw its growth for 27 years until he retired this year. Headquartered in Columbia, S.C., Companion Property & Casualty (www.CompanionGroup.com) was launched to provide workers’ compensation insurance in South Carolina. It’s now a multi-line insurance company licensed in 49 states.
The group offers commercial package policies, commercial auto insurance, commercial property and liability policies; workers’ compensation products; third-party administration services for workers’ compensation, liability and property coverage; and insurance for residential condominiums.
Its group includes Companion Property & Casualty Insurance Co., Companion Commercial Insurance Co. and Companion Specialty Insurance Co., all of Columbia, S.C.; AmFed National Insurance Co. and AmFed Casualty Insurance Co. of Ridgeland, Miss.; and several other companies.
Founded in 1984, Companion Property & Casualty was part of a BlueCross strategy to diversify beyond health insurance. Limited by its Blue Cross and Blue Shield license to selling health insurance only in South Carolina, executives decided to create non-health insurance subsidiaries that could sell products and services nationwide, employ more South Carolinians and generate revenue from outside of the state.
Today BlueCross has more than 45 companies involved in health insurance services, the U.S. DoD health program and Medicare contracts, other insurance and employee benefits services, and a philanthropic foundation that funds programs to improve health care and access to health care for South Carolinians.
Founded in 1946 and headquartered in Columbia, S.C., BlueCross BlueShield of South Carolina (www.SouthCarolinaBlues.com) is an independent licensee of the Blue Cross and Blue Shield Association. Its health insurance unit is the only South Carolina-owned and operated health insurance carrier.