This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

David Pauly Announces Plan To Retire From Capitol Insurance Companies; Stephen Sills To Be Appointed Chairman And CEO

MIDDLETON, Wis., Aug. 27, 2013 /PRNewswire/ -- Capitol Insurance Companies ("Capitol") announced today that David F. Pauly, Chairman and Chief Executive Officer of Capitol, has advised the company of his intention to retire effective December 31, 2013.  Mr. Pauly will step down as Chairman and Chief Executive Officer on August 30, 2013 and serve as a Senior Advisor to Capitol, assisting in the implementation of Capitol's recently announced strategic initiative.

Weston M. Hicks, President and chief executive officer of Alleghany Corporation, Capitol's parent company, commented, "It has been a pleasure working with Dave Pauly over the past decade. He has made Capitol a better company by building a strong management team and a solid infrastructure.  As a result of Dave's efforts, we believe that Capitol is well-positioned for continued success in the future.  On behalf of Alleghany, I want to thank Dave for his significant contributions, and we wish Dave well in his retirement."

Mr. Pauly stated, "Over the past eleven years, it has been a privilege to lead Capitol and work with its talented employees and valued distribution partners.  I look forward to further assisting Stephen and Capitol over the next few months as the company implements its new strategic initiative and broadens the product portfolio it provides to its agents."

In conjunction with Mr. Pauly's retirement, Stephen Sills will be appointed Chairman and Chief Executive Officer of Capitol effective August 30, 2013.  In addition, Alan S. Ogilvie, currently Executive Vice President of Capitol, will be appointed President of Capitol's Property & Casualty operations and report to Mr. Sills.  Rick Allen, currently President of Capitol's Surety and Fidelity operations, will continue to serve in that role and report to Mr. Sills.

Mr. Sills commented, "Capitol benefits from a deep bench of talented leaders and dedicated professionals.  Alan and Rick lead strong underwriting teams that will continue to provide outstanding products and service to our agents and policyholders.  I look forward to working with them to create a strong diversified specialty insurance company."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs