ProAg Announces CEO Transition04/28/2017
Michael Connealy to Transition from ProAg CEO;
Kendall Jones Named as Successor
AMARILLO, TEXAS (April 28, 2017) . . .
Producers Ag Insurance Group, Inc. (ProAg), a member of the Tokio Marine HCC (TMHCC) group of companies, today announced that Michael Connealy, President and Chief Executive Officer, will transition to Chairman of the Board, effective June 30, 2017 until his retirement in the second quarter of 2018.
Kendall Jones, currently Executive Vice President and Chief Operating Officer, will assume the role of President and Chief Executive Officer on June 30, 2017.
During his 11 years at ProAg, Connealy has helped develop ProAg into one of the premiere providers of crop insurance products. He has supported the industry throughout his career by serving on the Board of Directors and as Chairman of National Crop Insurance Services (NCIS), as well as through his testimony to both the U.S. Senate and House Agriculture Committees. Connealy has also been closely involved on behalf of the private sector during each Standard Reinsurance Agreement (SRA) negotiation session with the Federal Crop Insurance Corporation (FCIC) since the early 1980s.
“May 16, 2017 will be exactly 40 years since starting my first job in the insurance business out of college,” Connealy states. “Along this journey, many people, especially the Latham family in Amarillo, gave me a chance to succeed. I will be taking the time to thank all of these individuals as we get closer to my actual retirement date in 2018.”
The start of Connealy’s career coincided with the passage of the Crop Insurance Act of 1980 and the launch of the public/private sector multi-peril crop insurance program. Connealy continues, “Having had my ‘40 chances’ in a single career is a blessing. It was my good fortune to land in the crop insurance business at a young age, which allowed me to watch it grow from a fledgling business struggling each year for survival into what is now the acknowledged cornerstone of the United States Department of Agriculture risk management program for our nation’s farmers and ranchers.”
Jones joined ProAg in 2006 as Executive Vice President alongside Connealy, after spending time in diverse roles in the crop insurance industry at Norwest Corporation and Rural Community Insurance Services. She currently serves as ProAg’s Chief Operating Officer, overseeing the day-to-day operations of the regional offices and their support teams. Jones is an active advocate for the agricultural industry and currently serves on the Board of Directors of NCIS. She earned both a Bachelor’s degree and a Master’s degree in her home state at the University of South Dakota.
“Kendall is as prepared to lead this company as any Chief Executive in our history,” said Connealy. “Her leadership, her personal style, and her broad experience across the entire spectrum of the crop insurance business uniquely qualify her to step into this role in July. She is highly respected across the industry, she inspires ProAg employees, and she represents in every way ProAg’s core values.”
“I started working for and learning from Mike in 1994 on a temporary assignment. Encouraged by his generosity, humor and skills, I turned crop insurance into my career. The opportunity to lead ProAg is exciting, particularly during a time of uncertainty and challenge in the agricultural sector. Our strong competitive position will continue to be enhanced by our focus on the American farmer, our core values and our strong relationships with our agents,” said Jones.
Jones continues, “For more than three decades, Mike has provided invaluable leadership for our industry. His consistent and resolute focus on innovation, agent relations and strategic planning has distinguished our company. We all look forward to building on this approach as we move forward.”
“When we acquired ProAg in 2015, the strength and experience of the management team and a solid succession plan were key attributes of the transaction. Mike has guided ProAg through two successful years following the transaction, with excellent prospects for 2017. We look forward to working alongside Mike and Kendall on this transition and then fully supporting Kendall as she leads ProAg forward,” said Chris Williams, Tokio Marine HCC’s Chief Executive Officer.
ProAg is a member of the Tokio Marine HCC group of companies, with a financial strength rating of “A++ (Superior)” from A.M. Best Company, Inc. The company is positioned as a financially strong and well-capitalized crop insurer with over 90 years of experience in protecting the American farmer. ProAg writes multi-peril crop, crop hail, named peril crop and livestock insurance. The company is headquartered in Amarillo, Texas with eight offices spread across the United States. ProAg employs approximately 400 people supporting crop insurance operations in 41 states. For more information about ProAg, please visit www.ProAg.com. ProAg is an equal opportunity provider and employer.
Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom, Spain and Ireland. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of “AA- (Very Strong)” from Standard & Poor’s Financial Services LLC, “A++ (Superior)” from A.M. Best Company, Inc., and “AA- (Very Strong)” from Fitch Ratings; its major international insurance companies have financial strength ratings of “AA- (Very Strong)” from Standard & Poor’s Financial Services LLC. Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $31 billion as of December 31, 2016. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.