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Texas Mutual CEO to retire in 2023 after 40 years in insurance coverage

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Texas Mutual CEO to retire in 2023 after 40 years in insurance coverage

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Texas Mutual CEO to retire in 2023 after 40 years in insurance

Texas Mutual president and CEO, Richard “Wealthy” Gergasko, has introduced his intention to retire in early 2023, after 40 years within the insurance coverage business.

Gergasko joined Texas Mutual, the main state staff’ compensation supplier, in 2013. Within the following decade, he constructed up the corporate’s monetary power, supplied steady management by way of the COVID-19 pandemic, and championed varied initiatives to maintain staff and policyholders protected – together with a “no-use-while-driving” cellphone coverage for all staff.

“We’re grateful to Wealthy for his steadfast management, particularly throughout the previous couple of years when our staff, brokers and policyholders seemed to him for stability in the course of the COVID-19 pandemic,” mentioned Ron Simmons, chairman, Texas Mutual Board of Administrators. “Wealthy’s accomplishments throughout his tenure at Texas Mutual are quite a few. I’m significantly pleased with the wonderful monetary basis he has constructed that’s acknowledged by way of an A ranking from AM Finest. I additionally recognize his work to create a stronger, safer Texas and am assured his efforts may have an enduring impression throughout our state and the business.”

Upon saying his retirement, Gergasko mentioned: “After I take into consideration the final 10 years at Texas Mutual, there’s so much to be pleased with. The constant theme all through has been our dedication to being a steady power for good throughout the state of Texas. Texas Mutual’s philanthropic program is second-to-none, making a distinction in communities throughout the state with security awards, scholarships, philanthropic grants and security coaching grants. In 2022 alone, we’re investing $12 million in philanthropic funding throughout Texas.”

Whereas supporting Texas Mutuals’ philanthropic program from the highest down, Gergasko has additionally served in varied management positions for non-profit and business organizations. He was chair of the American Coronary heart Affiliation Board of Administrators in Austin; chair of the Austin Coronary heart and Stroke Stroll; member of United Means for Better Austin’s Marketing campaign Cupboard, founding organizer of Texas Mutual’s biking workforce for the MS 150, Govt Committee member of the Texas Enterprise Management Council, member of the Insurance coverage Trade Charitable Basis, and extra.

Texas Mutual will discover exterior and inner choices for its new CEO, with the assistance of govt search and management advisory agency Russell Reynolds Associates.

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