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Westfield Insurance Co. said Wednesday it is entering the specialty insurance business and has named veteran executive Jack Kuhn as president of the new venture.
The Westfield Center, Ohio-based insurer said in a statement it decided to enter the specialty sector because of current market conditions coupled with its financial strength, A.M. Best “A” rating and established brand.
“Our expectation is to methodically enter lines of business where we can attract top talent and grow profitably,” Ed Largent, Westfield’s chairman, president and CEO, said in the statement.
The company did not respond to a request for further details.
Mr. Kuhn was most recently CEO, insurance, at Vantage Risk Ltd. in Berkeley Heights, New Jersey, and is also a former CEO of global insurance at Sompo International Holdings Ltd.