Capital Insurance Group (CIG), the leading regional property and casualty insurer serving the Western U.S., has named L. Arnold Chatterton as president and chief executive officer. The decision and appointment by the board of directors follows Peter Cazzolla’s announcement that he would be retiring his leadership role after a 21-year tenure with the company. As part of CIG’s well-planned succession program, Cazzolla will stay on in an advisory role to ensure a smooth transition. Both men have long-standing relationships with businesses throughout Phoenix, Scottsdale and the region.
“Arne brings a wealth of experience, knowledge, and outstanding leadership skills to his new role. CIG has benefited from his leadership of our Field Operations and Marketing group. Through his influence and business experience, he has focused on improving the effectiveness of our agency business operations,” said Cazzolla. “I have the utmost confidence that Arne is the right person to successfully lead our company into the future.”
During his 30 years in the property and casualty insurance industry, Chatterton has had a steady progression from frontline agency and underwriting positions to management and senior officer assignments with a leading Western regional and international insurance company.
“It has always been my hope and ambition to lead a regional insurance organization like CIG,” said Chatterton. “CIG was very familiar to me when I started because of its commitment to our agents and responsiveness. CIG treats everyone like ‘family.’ We have a tremendously dedicated group of customer-focused people; we offer a terrific group of business products; and we have an outstanding group of agency partners, without whom we would not be where we are today. I look forward to building on the solid business reputation that has been established by our people, our partners, and Peter Cazzolla.”
Over the past 20 years, CIG has experienced substantial financial growth and prestige. When Peter Cazzolla was selected to lead the firm in 1993, CIG was a small, regional insurance company with $103 million in written premium and $60 million in surplus. Today, CIG is one of the premier regional companies in the West with more than $400 million in written premium and $300 million in policyholder surplus. CIG also expanded from California and Nevada to include Arizona, Oregon, Washington, Idaho and New Mexico. In addition, the company’s core product lines broadened, and its market capacity now includes non-admitted and captive alternatives.