Several major updates shook up the leadership teams at some of the biggest U.S. insurance companies this week.
Frankenmuth Insurance announced that Andy Knudsen, their president and chief operating officer, will retire at the end of this year. Knudsen spent over 30 years in the insurance industry and 13 years with Frankenmuth. He started there in 2012 as vice president of claims and was named president and COO just last year. During his time, he helped improve the company’s operations and guide its future plans. To fill his shoes, Dawn Jaffray, currently Frankenmuth’s chief financial officer and treasurer, will step in as president and COO starting January 1, 2026. Jaffray, who joined the company in 2023, has more than 30 years of experience in insurance finance. She’s also set to become CEO at the end of 2026, succeeding Fred Edmond when he retires.
Over at CRC Group, a large specialty insurance distributor, four new specialists have been hired to grow their CRC Specialty division. Matthew Duff will lead underwriting in Little Rock, bringing over a decade of experience in homeowners and personal lines. Ron Bussey will work in Nashville as a senior broker handling casualty insurance for bigger clients. Michael Gallien Jr joins the Dallas team as a broker focusing on energy, construction, and transportation risks. Lastly, Alan Renfroe has been hired in Birmingham to expand the professional-lines team, with nearly 15 years of experience in specialty insurance. CRC Group operates across the U.S. and Canada, with more than 5,500 employees and handles over $30 billion in premiums each year.
Mutual of Omaha has promoted Stacy Scholtz to chief operating officer. She has been with the company since 1991 and previously managed financial solutions, including income and wealth planning and mortgage services. As COO, Scholtz will lead company-wide transformation efforts and help bring more AI technology into their operations. The company’s CEO, James Blackledge, praised her skills in strategy and improving customer experience as key to the company’s future success.
Great Bay Insurance Group, which focuses on coastal homeowners’ insurance in New Jersey, also announced big leadership moves. Brian S. Schleider has been named executive vice president and chief financial officer. He has over 35 years in accounting, finance, and capital management, and has been with Great Bay since 2020. Sharon Karlsson-Simons was promoted to senior vice president of business development for Great Bay Underwriting Services. She joined the company as director of marketing in 2020 and has played a major role in building agency relationships and expanding the company’s reach.
These leadership updates show a strong focus on experienced professionals stepping into key roles as these companies plan for the future and aim to grow their positions in the insurance market.