Property and casualty insurance company Hanover Insurance Group, Inc. has named Richard W. Lavey, currently chief operating officer (COO) and president of Hanover Agency Markets, as CEO-designate, and John C. Roche announced his intention to retire on December 31, 2026.
Roche, who has a 40-year career in the insurance industry, currently serves as the company’s president and CEO and will work closely with Ravi to ensure a successful transition.
Cynthia L. Egan, Chair of the Hanover Hotel Board of Directors, commented, “The Board is deeply grateful to Jack for his outstanding leadership and the significant impact he has had on Hanover Hotel. He has driven progress in all aspects of the company, most importantly working closely with the Board and Dick to ensure we have an outstanding CEO to take the company to the next level.”
Lavey has been with the insurance company since 2004 and has held a range of executive leadership roles during his 22-year tenure. In his current role, he is responsible for driving strategy for the company’s operating model and enhancing partnerships between its business and technology functions.
While serving as President of Hanover Agency Markets, Lavey led the growth and performance of the core commercial and personal businesses. In the past, he also held important positions such as Chief Marketing Officer, Chief Growth Innovation Officer, President of Personal Business, and President of Northeast Region.
Prior to joining The Hanover, Lavey held leadership roles in sales, distribution, marketing and strategy at various insurance and technology companies, including The Hartford and The Travelers Insurance Company. He also recently served as Chairman of the Board of Directors of the National Council for Compensation Insurance (NCCI).
Roche has been with Hannover since 2006 and was appointed President and CEO in 2017. Under his leadership, the insurance company achieved record operating profits, outstanding stock price appreciation and solidified its position as the premier property and casualty firm in the independent agent channel.
In addition, Roche serves as Vice Chairman of the Board of Directors of the Insurance Association, a member of the Board of Directors of the American Property Casualty Insurance Association and a member of the Board of Supervisors of the Morris R. Greenberg School of Risk Management, Insurance and Actuarial Science at St. John’s University.
Roche said: “I will retire at the end of this year and am extremely proud of all the achievements of our organization. The company is financially strong and has the outstanding talent we need to drive our business forward.
“Having worked closely with Dick for more than two decades, I have every confidence in his leadership and ability to guide our company forward. Together, we will ensure a seamless and successful transition.”
Egan added: “Dick is an accomplished executive with extensive experience in the insurance and technology industries. His impressive contributions have been critical to the successful expansion of the company’s strategy, establishing Hanover as a leading partner and high-performing company for independent agents.”
“From repositioning the company’s personal and core business lines for growth and profitability, to providing critical leadership in driving technological advancements, Dick has the insight, strategic vision and passion to lead the company on the next chapter of its extraordinary journey.”
“I am honored to lead our organization during such a transformative time for our business. I am motivated to continue our momentum to accelerate growth, improve performance and deliver lasting value to our stakeholders,” said Lavey.
