Greg Barats Named President and CEO of HSB Group Inc.
Princeton, New Jersey, 3 August 2011 – Munich Re today announced the appointment of Greg Barats as President and Chief Executive Officer of HSB Group Inc. effective 6 September 2011. Mr. Barats succeeds Doug Elliot who resigned his position in March 2011. Since March, Anthony J. Kuczinski, Chairman of the HSB Group, Inc., has served as interim President/CEO. Mr. Kuczinski is also President and CEO of Munich Reinsurance America, Inc., and heads Munich Re’s property and casualty operations in the U.S.
Mr. Barats joined HSB in 2002 after a successful career in international energy consulting and environmental management. More recently, Mr. Barats led HSB’s engineering operations and fee-based businesses and chaired HSB’s efforts in developing opportunities in the renewable energy sector.
“Greg is an entrepreneur, as well as an accomplished executive, who has a clear vision of how to combine Munich Re’s financial strength, superior risk management expertise, and worldwide presence with HSB’s identity and market leadership to foster already outstanding profitability,” said Peter Röder, member of Munich Re’s Board of Management responsible for business in North America.
“Munich Re’s commitment to niche specialty insurance markets, engineering and renewable energies is perfectly realized through HSB’s business model. Greg’s background, proven track record and his detailed understanding of the insurance market provide the right leadership for HSB to continue developing its core competencies to the benefit of our clients,” said Mr. Kuczinski.
HSB Group Inc. is the holding company for Hartford Steam Boiler and its affiliates. Hartford Steam Boiler is one of the world’s leading equipment breakdown insurers providing a unique combination of specialty insurance coverages, engineering-based risk management strategies and loss reduction services for business, home and farm. HSB Group Inc. was acquired by Munich Re in April 2009.