ST. AUGUSTINE, FL--(Marketwire - August 2, 2010) - Stephen A. Korducki, a senior insurance and reinsurance executive, has been elected President and CEO of Sunshine State Insurance Company, Inc. (SSIC), a leading writer of homeowners insurance in Florida, Tal P. Piccione, Non-Executive Chairman of the Board, announced today. Korducki succeeds John E. Rogan who is retiring after leading the Company for five years.
Korducki joined SSIC August 1 after almost 30 years in the insurance and reinsurance business. He has extensive knowledge of the Florida insurance market having served for five years as CEO of Florida Select Insurance Group. Under his leadership, Florida Select revenues under management grew from $50 million in one state to more than $300 million in 10 states.
"We are especially pleased to have an industry leader of Stephen Korducki's stature take the reins at Sunshine State. John Rogan has done an excellent job building SSIC into a respected Florida insurance company. We wish him well," Piccione said. Rogan will continue to serve the Company in a consulting capacity until September 2011.
After leaving Florida Select, Korducki served for four years as Managing Director - Business Development at Guy Carpenter & Company where he was active in helping clients manage and reinsure catastrophe risk. He was recruited in 2007 to be Chief Financial Officer at First Home Insurance Company. A Certified Public Accountant, Korducki began his career with Ernst & Young, LLC. He served also for 12 years as Senior Vice President of Booke & Company, a financial, actuarial, and consulting firm that was acquired by Aon in 1993.
Korducki holds a BSBA Degree in Accounting from Marquette University. He is a Founding Member of the Citizens Florida Property Insurance Company Reinsurance Committee and has served on the Accounting Committee of the National Association of Mutual Insurance Companies and the Emerging Issues Advisory Group of the National Association of Insurance Commissioners.
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For more information, contact:
Mechlin Moore
MDM Communications
239-777-1595