KANSAS CITY, Mo.--June 9, 2004--GE's Employers Reinsurance Corporation (GE ERC) has named Richard F. Smith its chief operating officer and Marc Meiches as its chief investment officer.
As chief operating officer, Smith, 44, will lead continuing reinsurance, commercial insurance and life insurance business units as well as the company's property and casualty product management teams.
Smith has previously been responsible for the company's $4 billion property and casualty reinsurance operations. Meiches, 51, will be responsible for investment portfolios totaling $57 billion, business development and the management of discontinued operations.
Meiches will continue to serve also as the company's chief financial officer until a replacement is selected. Both Smith and Meiches are vice presidents of the General Electric Company, and will continue to report to Ron Pressman, Chairman, President and CEO of GE ERC.
These appointments help simplify our organization for our customers while focusing our expertise and talent in underwriting and investments, said Pressman. Rick Smith and Marc Meiches will provide strong leadership and disciplined operating skills in these expanded roles.
Louis Parker, 49, who had served as Commercial Insurance leader, has been promoted to a senior role at GE Infrastructure. Alfred Stanley, 41, who had led GE ERC's life and health reinsurance team, has accepted a position outside the company.
I greatly appreciate the leadership and service that Louis and Al have provided GE ERC, and we wish them the best in their exciting new roles ahead, said Pressman.
GE's Employers Reinsurance Corporation (NYSE: GE) is a company that protects lives, property and reputations. ERC serves clients with reinsurance and commercial insurance and other risk management services. More information on ERC is available at www.ercgroup.com.
--30--DJM/dx*
CONTACT: GE ERC
Dean Davison, 816-448-7604 or 913-244-9033
or
John Novaria, 816-448-7606
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340