Nationwide Mutual Insurance Company, in a surprise announcement yesterday, said that its long-serving chief executive officer, Jerry Jurgensen, has been replaced by President and Chief Operating Officer Steve Rasmussen.
The Columbus, Ohio-based personal lines giant said Mr. Jurgensen, who has been with the company since 2000, reached a mutual agreement with Nationwide's board of directors that he should leave.
The action comes less than a month after A.M. Best Company revised the Nationwide Group's outlook to "negative" from "stable."
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