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Thomas E. Riley has resigned as CEO of AssuredPartners Inc. less than four months after taking the title. He will be replaced by former CEO Jim Henderson, the Lake Mary, Florida-based brokerage said Tuesday.
In a statement, AssuredPartners said Mr. Riley “has resigned as chief executive officer of the company to pursue other investment opportunities and devote more time to his family and charitable interests.”
Mr. Riley said it “was a difficult decision” and that he will remain a significant shareholder of AssuredPartners.
An AssuredPartners spokesman did not immediately return a call seeking comment.
Mr. Riley and Mr. Henderson, both former Brown & Brown Inc. executives, founded AssuredPartners in 2011 with private equity backing from Chicago-based GTCR LLC.
Last October, AssuredPartners announced that Mr. Riley, who had been president and chief operating officer, would take over as CEO on Jan. 1, 2021, and that Mr. Henderson would become executive chairman.
AssuredPartners is the 11th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking.