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Pacific Specialty Insurance Company Names Chu President and CEO

Brings Many Years of Experience in Insurance and Finance to California-Based Company

MENLO PARK, CA -- (Marketwired) -- 03/31/14 -- Pacific Specialty Insurance Company has elected John Chu President and Chief Executive Officer. He continues to serve as Chairman of the Menlo Park, Calif.-based property/casualty insurer, a position he has held for two years.

Prior to becoming CEO, Chu was an Operating Partner with Altamont Capital Partners and Golden Gate Capital. He currently sits on the boards of directors of Wedbush Securities and FirstBest Systems, as well as Accenture's Board of Advisors.

"Our strong commitment to our independent agents and brokers will always be the foundation of our strategy, and I look forward to working closely with our key partners," Chu said.

Chu succeeds Brian S. Cohen, who resigned to pursue other opportunities.

He was previously Senior Vice President, e-Business and Technology, for The Hartford's property/casualty operations, responsible for technology strategy and operations. He had served as Vice President, Strategic Business Development, and Chief Financial Officer for The Hartford's personal lines division.

Before that, he was a Managing Consultant for Tillinghast-Towers Perrin, managing numerous engagements with Fortune 100 financial services companies. Earlier in his career, Chu served as Vice President with Lehman Brothers Asia and also held several positions with PepsiCo Foods International, including director for PepsiCo's Asia-Pacific operations.

Chu holds an MBA from the Stern School of Business at New York University and a Bachelor of Arts in economics from University of California at Los Angeles.

Based in Menlo Park and Anaheim, Calif., Pacific Specialty serves individuals and small-business owners with specialty and general policies, including homeowners insurance, powersports insurance, and business insurance. It is represented by independent insurance agents and brokers that give customers personal counseling and a choice of competitive carriers. Admitted in all states, it is rated A (Excellent) for financial strength by A.M. Best Co. It was recently named to the 2013 Ward's 50 list of top-performing insurance companies for the third year in a row. More information is available at www.pacificspecialty.com. LinkedIn: http://tinyurl.com/ke2tgtu. Twitter: @PSInsurance.

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