Citizens Property Insurance Corporation's chief financial officer, Sharon Binnun, has accepted a position in the private sector and will resign her post effective July 5.
In a memo to staff, Citizens President and Chief Executive Officer Barry Gilway spoke of Ms. Binnun's upcoming departure with a mixture of “pride and regret,” acknowledging her leadership following the 2004/2005 hurricane seasons.
“Sharon's well-earned reputation within the international financial world as an ethical, knowledgeable, and honest representative has been instrumental in helping to establish Citizens as a global leader in risk transfer,” Mr. Gilway wrote. “There truly can be no doubt that no one has made a more significant or beneficial contribution to Citizens or the Florida insurance market.”
Ms. Binnun, a former insurance regulator who became CFO of Citizens in 2007, is taking a job with a Florida-based insurer that has not done depopulation business with Citizens, the state-created insurer of last resort. The private company is expected to announce the move soon.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].