CNA Financial Corporation (NYSE: CNA) has announced a significant executive leadership transition. Doug Worman, the current Executive Vice President & Global Head of Underwriting, is set to take over as the President and Chief Executive Officer of the company effective from January 1, 2025. Meanwhile, Dino E. Robusto, the current Chairman and CEO, will transition to the role of Executive Chairman of CNA’s board of directors.
Dino E. Robusto has been credited with leading the company to record levels of profitability and top quartile underwriting performance over the past 8 years. Under his leadership, CNA has achieved significant success. As a result, Robusto will continue to advise CNA as the Executive Chairman, leading the board and serving as a strategic advisor to Doug Worman in pursuit of the company’s objectives.
Doug Worman, who joined CNA in March 2017 as the Executive Vice President & Chief Underwriting Officer, has been instrumental in strengthening and solidifying CNA’s underwriting culture and profitability. Currently serving as the Global Head of Underwriting, he is responsible for the oversight, strategy, and underwriting direction of CNA's property & casualty operations worldwide.
Worman's track record includes leadership roles at Endurance U.S. Insurance, Alterra Capital Holdings, and AIG, where he began his insurance career. His appointment as the CEO is seen as a continuation of the success achieved under Robusto's leadership, with a clear vision to further elevate CNA as a preeminent P&C insurer.
It's worth noting that CNA Financial Corporation is one of the largest U.S. commercial property and casualty insurance companies with over 125 years of experience. The company provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada, and Europe. Following these announcements, the company's shares moved 0.2%, and are now trading at a price of $45.14. Check out the company's full 8-K submission here.
