For Immediate Release
March 16, 2015
Media Contact: Thomas Thamm
(802) 223-2341 x8975
tthamm @ vermontmutual.com
MONTPELIER, Vermont (March 16, 2015) - Vermont Mutual Insurance Group® announced today that Group President and Chief Executive Officer, William A. Catto, CPCU, will retire from the company on June 30, 2015.
Catto's distinguished career in the property casualty business spans more than 40 years. Prior to joining the Company in 1995, he was President of the Granite Mutual Insurance Company in Barre, Vermont, which is now an affiliated member of the Vermont Mutual Insurance Group. After 17 years of helping to lead the Group in his role as Executive Vice President, Catto was elected President of the Group companies in 2012 and Chief Executive Officer in 2013.
In announcing the Group plans, Catto noted "It has indeed been a privilege to serve as President and CEO for this group of companies that is so well respected in the industry. The dedication of our employees and the commitment that we share with our Independent Insurance Agency Partners have produced historically exceptional results for our company and policyholders. I am confident that the transition plan we initiated several years ago will enable Vermont Mutual to sustain superior operating performance and financial stability, and maintain our position as a highly regarded insurer throughout the Northeast."
Under Catto's leadership, Vermont Mutual has experienced significant growth and has been recognized by Ward Group as a Top 50 U.S. Property and Casualty company for six straight years. Additionally, in December 2014 Vermont Mutual was upgraded to A+ (Superior) by international rating agency A. M. Best Company. After his June retirement, Mr. Catto will continue to play an integral role on Vermont Mutual Insurance Group's Board of Directors.
Chartered in 1828, Vermont Mutual Insurance Company is one of the ten oldest mutual property/casualty insurers in the United States. They have operated continuously since that time in Montpelier, VT. Along with the wholly owned subsidiary, Northern Security Insurance Company, Inc. and the affiliated Granite Mutual Insurance Company, Vermont Mutual Insurance Group provides coverage throughout New England and New York. Through more than 500 independent agencies, the Group insures approximately 285,000 policyholders with a direct written premium of more than $350,000,000. In addition to its upgrade to A+ (Superior) by A. M. Best, Vermont Mutual Insurance Company has been named to Ward's Top 50 performing property/casualty companies in the United States for the past six consecutive years.