Advisen Ltd. today announced Thomas P. Ruggieri, CEO and co-founder, is to step down as CEO of the company after 14 years.
Ruggieri will remain acting CEO until October 9, at which time Advisen’s executive management team – co-founders Dave Bradford and Ed Forer, as well as CFO David Dahlquist – will assume his responsibilities. Effective immediately, Ed Forer will expand his COO role to assume more day-to-day management responsibilities.
The search for a new CEO is advanced and Advisen hopes to make an announcement soon.
“Fourteen years ago Tom Ruggieri and Dave Bradford – along with myself – started Advisen with the primary vision to deliver greater information and insight into the commercial insurance industry,” Forer said.
“Since then Advisen has seen great successes, weathered a few significant storms, and is fulfilling that mission. Today, our company enjoys a wonderful reputation. We have more than 250 employees on three continents. We touch thousands of professionals every day. We have contributed to this industry in a lasting way. Those are all notable achievements,” he added.
Ruggieri leaves to take over the North American operations at Advisen client CGSC, including its Swett & Crawford subsidiary.
“Tom is a great entrepreneur and is inexorably linked with Advisen,” Dahlquist said. “Through the great team he built and his overall guidance, his imprint on Advisen is indelible. He leaves Advisen as strong as it has ever been.”
“Our business is profitable, we see new opportunities around every corner, and overall the industry values our contribution more now than ever before. We are particularly excited about a strong range of new products which Advisen is launching this fall. In many ways, with the surging importance of data and analytics in risk and insurance, the market is finally catching up with us,” Dave Bradford said.
The management team wishes Tom every success in his new role. The entire organization thanks him for his unwavering dedication to Advisen over the past 14 years. He leaves the company in a place where its present is only outshone by its future.
Inquiries should be directed to Dave Bradford at [email protected].
