Election of prominent business leader signals CGNU plc’s plans for growth in US CGNU Corporation announced today that Nader F. Darehshori, chairman, president and CEO of Houghton Mifflin Co, has been elected a director of this newly formed holding company.
Election of prominent business leader signals CGNU plc’s plans for growth in US
CGNU Corporation announced today that Nader F Darehshori, chairman, president and CEO of Houghton Mifflin Co, has been elected a director of this newly formed holding company.
Cees Schrauwers, Chairman of CGNU Corporation, said: "The fact that a business leader of Nader Darehshori’s stature is joining our board sends a clear message that our London- based parent company, CGNU plc, is committed to growth in the US financial services market place. We’re confident that our US life insurance business will benefit from Nader’s business acumen as well as his understanding of the education market, a segment of which is now served by our US life insurance subsidiary CGU Life.”
Mr Darehshori also serves as a director of State Street Boston Corporation and as chairman of the Boston Public Library Foundation. In addition, he is a trustee of Wellesley College and the Dana-Farber Cancer Institute.
With $2.7 billion in assets, CGU Life Insurance Company of America (www.cgulifeusa.com) serves the annuity and life planning needs of individuals and families in the US through a national network of independent agents, specialty brokers and banks. CGU Life is rated A+ (Superior) in financial strength by AM Best Co and AA- (Very High) by Fitch.
CGU Life is the US arm of London-based CGNU plc (LSE: CGNU). CGNU is the world’s seventh-largest insurance group and the largest insurer in the UK. It has worldwide premium and investment sales from ongoing business of Ł27 billion, and more than Ł200 billion in assets under management at 30 June 2001.
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