Bermuda-based AXIS Capital Holdings Limited announced that the Company’s Board of Directors has elected W. Thomas Forrester, 55, Vice President and CFO of The Progressive Corporation, the third largest U.S. auto insurer, to the Board.
AXIS Capital Chairman Michael Butt commented: “We are pleased to welcome Tom to AXIS Capital’s Board of Directors. With nearly 20 years of outstanding insurance industry experience and a diverse management background spanning finance, operations and marketing, Tom is a valuable addition to the Board.”
Forrester began his career at Progressive in 1984 as a controller in the Gulf Division and was named Corporate Controller within four years. Other positions he has held at Progressive include Director of Marketing for the Financial Services Division, Commercial Lines President, Central Division President and Treasurer. Prior to joining Progressive, he spent eight years at Price Waterhouse on both the audit and consulting staffs, ultimately as Senior Manager.
“With this appointment, AXIS Capital’s Board of Directors consists of three management directors and 10 independent directors under the rules of the New York Stock Exchange,” the announcement concluded.