FRANKLIN LAKES, N.J.--(BUSINESS WIRE)--Western World Insurance Group (“Western World”) announced today that Thomas F. Mulligan, President and Chief Executive Officer, is retiring effective January 1, 2015 after 33 years of continuous service to the company and its customers. Mr. Mulligan will continue to support the company through his participation on the Western World Board of Directors. Robert J. Livingston, the current Chief Operating and Chief Financial Officer, who has been with Western World for 37 years, will assume the role of President and Chief Executive Officer.
On October 2, 2014, Western World was acquired by Validus Holdings, Ltd., (“Validus”) a global provider of reinsurance and insurance focused on short tail specialty classes of business.
Commenting on his retirement, Tom Mulligan stated, “I would like to thank Western World’s employees and business partners for their loyalty and dedication throughout my time at Western World. I have enormous respect for Bob who has been my colleague for 33 years and who is well known within our industry. Bob’s undoubted success in the future will be a reflection of his experience and skills, as well as the on-going support of the Western World management team and the entire Western World staff. I am looking forward to my retirement which will include active participation as a member of Western World’s Board.”
Bob Livingston added, “It has been a privilege to work alongside Tom and I look forward to leading Western World with the support of Validus as we expand our platform, products and services. I know the staff and management at Western World will join me in personally thanking Tom for his leadership, and wishing him well as he takes his well-deserved retirement.”
Bob Livingston first became an officer of Western World Insurance Group in 1980 when he was elected Assistant Treasurer, and has held positions of increasing responsibility before being elected to his current position in 2010. He is an active participant in the Property Casualty Insurers Association of America (PCI), and serves on two Committees: the Finance Issues Committee, and the Reinsurance Sub-Committee.
Ed Noonan, Validus’ Chairman and Chief Executive Officer, added, “I would like to thank both Tom and Bob for their hard work and dedication in creating the premier company that Western World is today. It is a great testimony to the caliber of the Western World team that we are able to manage this planned and seamless transition within the current members of management. I look forward to working with Bob in his capacity as CEO and Tom as a fellow board member as Western World heads into the exciting next phase of its development.”
About Western World Insurance Group, Inc.
Western World Insurance Group, Inc., through its subsidiaries, is a specialty U.S. commercial insurer, offering insurance products on a surplus lines and admitted basis. Western World’s three operating companies are domiciled in New Hampshire and are headquartered in Franklin Lakes, New Jersey.
About Validus Holdings, Ltd.
Validus Holdings, Ltd. is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot Holdings Ltd. (“Talbot”), Western World Insurance Group, Inc. (“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”).
Validus Re is a Bermuda based reinsurer focused on short tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Western World is a U.S. specialty lines insurance company focused on excess and surplus lines. AlphaCat is a Bermuda based investment adviser managing capital for third parties and the Group in insurance linked securities and other property catastrophe reinsurance investments.