Michigan-based Meadowbrook Insurance Group, Inc. recently announced today that its founder and chairman, Merton J. Segal, will retire as an employee of the company effective Sept. 30, 2008.
Segal, 79 years old, founded Meadowbrook in 1955 as Meadowbrook Insurance Agency. Under his leadership, Meadowbrook has grown from a start-up local retail agency into a leading specialty risk management insurance company.
Segal will continue to serve on the board of directors as a non-executive chairman and will also be a consultant to the company effective Oct. 1, 2008.
“Retiring at a time of record sales and profitability provides me with a great deal of satisfaction and fills me with a debt of gratitude to all the people who have played a part in the company’s success,” Segal said.
Robert S. Cubbin, Meadowbrook’s president and CEO said, “He has demonstrated a lifetime of achievement in the insurance industry. Mert is one of the most respected pioneers in the field of “alternative risk management.”
Source: Meadowbrook Insurance Group
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