-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AMPtxqqG0Ab15idqxYBDQgQmQyZ4Pq5ED96Y48MmwlouCjn09C8ic7domJqqDsOI I/71nBkkoNwd1h5QURvNag== 0000021175-97-000019.txt : 19970806 0000021175-97-000019.hdr.sgml : 19970806 ACCESSION NUMBER: 0000021175-97-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19970804 ITEM INFORMATION: Other events FILED AS OF DATE: 19970805 SROS: CSE SROS: NYSE SROS: PSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: CNA FINANCIAL CORP CENTRAL INDEX KEY: 0000021175 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 366169860 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05823 FILM NUMBER: 97651193 BUSINESS ADDRESS: STREET 1: CNA PLZ CITY: CHICAGO STATE: IL ZIP: 60685 BUSINESS PHONE: 3128225000 MAIL ADDRESS: STREET 1: CNA PLAZA CITY: CHICAGO STATE: IL ZIP: 60685 8-K 1 FORM 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) July 24, 1997 ------------------------------------- CNA FINANCIAL CORPORATION (Exact Name of Registrant as Specified in Charter) DELAWARE 1-5823 36-6169860 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) CNA PLAZA, CHICAGO, ILLINOIS 60685 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (312) 822-5000 (Former Name or Former Address, if Changed Since Last Report) ================================================================================ ITEM 5. OTHER EVENTS Exhibit No. Description - ----------- ----------- 99.01 On July 30, 1997, CNA Financial Corporation issued a press release announcing that W. James MacGinnitie has been named chief financial officer and senior vice president of CNA. MacGinnitie replaces Peter E. Jokiel, who was promoted to president of CNA Life in April of this year. MacGinnitie comes to CNA from Ernst & Young LLP., where he has been a partner and national director of actuarial services since 1994. He will assume his new position on a full time basis October 1. A copy of the press release is attached hereto as Exhibit 99.01 and is incorporated herein by reference. 99.02 On July 24, 1997, CNA Financial Corporation issued a press release announcing that Carolyn L. Murphy, senior vice president and head of CNA's Commercial Operations, announced her retirement effective October 1, 1997. With Murphy's retirement, Commercial Insurance and Risk Management will then become separate operating departments of CNA, replacing the current Commercial Operations structure.Peter P. Conway, president of CNA Risk Management, and Michael S. McGavick, president of CNA Commercial Insurance, will immediately assume additional duties as senior vice presidents and members of CNA's senior management team. A copy of the press release is attached hereto as Exhibit 99.02 and is incorporated herein by reference. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CNA FINANCIAL CORPORATION Date: August 4, 1997 By: S/PATRICIA L. KUBERA -------------- --------------------- Patricia L. Kubera Group Vice President and Controller EX-99 2 EXHIBIT 99.01 Media contacts: CNA Roger Morris CNA Plaza (312) 822-4195 Chicago, Illinois 60685 Clark Walter (312) 822-1454 Analysts: Deborah Kamp (312) 822-7752 CNA For All The Commitments You Make (R) - -------------------------------------------------------------------------------- NEWS FOR IMMEDIATE RELEASE MACGINNITIE NAMED CHIEF FINANCIAL OFFICER AT CNA (Chicago) 7/30/97 - W. James MacGinnitie has been named chief financial officer and senior vice president of CNA. MacGinnitie replaces Peter E. Jokiel, who was promoted to president of CNA Life in April of this year. MacGinnitie comes to CNA from Ernst & Young LLP., where he has been a partner and national director of actuarial services since 1994. He plans to immediately begin acquainting himself with CNA while completing client assignments at Ernst & Young LLP and will assume his new position on a full time basis Oct. 1. "Jim brings a wealth of talent and knowledge to CNA from his extensive experience both working in the insurance industry and serving it as a consultant," said Dennis Chookaszian, CNA's chairman and CEO. "His strong reputation and impressive credentials as an actuarial expert combined with his project management skills make him well-qualified to oversee our commitment to continued financial strength and stability." As chief financial officer, MacGinnitie will oversee CNA's Corporate Finance Department of approximately 1,000 employees and the company's more than $42 billion in investments. Prior to joining Ernst & Young LLP, MacGinnitie was a managing principal at Tillinghast-Towers Perrin for 19 years. He founded and developed their property/casualty actuarial and risk management practice. MacGinnitie began his insurance career as an actuarial trainee at CNA in 1960 and worked for the company nearly 12 years in a variety of positions with increasing responsibility. From 1972 until 1973 he was with the actuarial consulting firm of Milliman & Robertson. From 1973-75, he was professor of actuarial sciences at the University of Michigan. He received his bachelor's in mathematics from Northwestern University. MacGinnitie is a fellow of the Casualty Actuarial Society where he served as president in 1979-80. He is also a fellow of the Society of Actuaries and served as vice president from 1991 until 1993. He is a member of the American Academy of Actuaries and served as president in 1988-89. CNA is one of the world's premier insurance organizations. With 1996 revenues of $17.0 billion, CNA ranks among the top 10 U.S. insurance groups. Headquartered in Chicago, CNA is a leading multibusiness insurer, serving individuals and businesses with a broad range of insurance products and insurance-related services. CNA products and services are marketed through multiple distribution channels, including independent agents, brokers, general agents and direct sales. In 1997, CNA observes its centennial year, celebrating a century of financial strength, stability and commitment to customers and business partners. CNA is the registered service mark and trade name of CNA Financial Corporation. # # # EX-99 3 EXHIBIT 99.02 Media contacts: CNA Roger Morris CNA Plaza (312) 822-4195 Chicago, Illinois 60685 Clark Walter (312) 822-1454 Analysts: Deborah Kamp (312) 822-7752 CNA For All The Commitments You Make (R) - -------------------------------------------------------------------------------- NEWS FOR IMMEDIATE RELEASE MURPHY ANNOUNCES RETIREMENT: MCGAVICK AND CONWAY PROMOTED AT CNA (Chicago) 7/24/97 - Carolyn L. Murphy, senior vice president and head of CNA's Commercial Operations, has announced her retirement, effective Oct. 1, 1997. Murphy has been with CNA for 20 years and has served as president of the Commercial Operations Department since May 1995, when it was created in conjunction with the merger of CNA and The Continental Corporation. She previously was senior vice president and chief operating officer of CNA's Field Operations Department for 12 years. Murphy helped grow the commercial insurance area into CNA's largest line of business, with revenues of nearly $5.6 billion last year. "Carolyn was instrumental in providing the leadership to build CNA's commercial insurance business into what it is today - the largest and best in the country," said CNA Chairman and CEO Dennis Chookaszian. "Her understanding of the importance of the partnership between the company and its distribution force helped to build the High Performance Agency (HPA) program into the insurance industry's premiere example of agency-company partnership." Chookaszian said that the growth of CNA's Commercial Operations business has resulted in the development of two distinct businesses - Commercial Insurance, which serves companies with premiums up to $1 million a year for their combined insurance needs, and Risk Management, which supplies risk transfer products and support services to the top 9,500 U.S.-based enterprises. Commercial Insurance had revenues of approximately $4.7 billion last year while Risk Management added about $900 million in revenues (or $3.1 billion in premium equivalent). With Murphy's retirement in October, Commercial Insurance and Risk Management will then become separate operating departments of CNA, replacing the current Commercial Operations structure. Peter P. Conway, president of CNA Risk Management, and Michael S. McGavick, president of CNA Commercial Insurance, will immediately assume additional duties as senior vice presidents and members of CNA's senior management team. Michael W. Kooken, president of the newly formed CNA UniSource, a professional employer organization (PEO), will report to McGavick. "Carolyn has built a talented group of individuals and because people like Pete Conway, Mike McGavick, and Mike Kooken are in place, we are very confident in continuing the growth of our commercial and risk management businesses, " said Chookaszian. McGavick was named to his present position in January 1997. Previously, he served as executive vice president and senior financial officer of the Commercial Lines Group, Commercial Operations Department, from January 1996. He joined CNA in 1995 as group vice president of New Ventures, a unit of the Marketing Department, where he was responsible for assisting the corporation in various aspects of strategic planning and reviewing new business opportunities as required by CNA's business needs. Prior to joining CNA, McGavick was director of the Superfund Improvement Project for the American Insurance Association (AIA) from 1992 to 1995. In this position, he was a lead negotiator for the insurance industry with Congress, the Administration, the environmental community and industrial groups seeking reform of the nation's Superfund laws. From 1991 to 1992, he was a Seattle-based partner of the Gallatin Group, a four-office regional public relations firm. His practice focused on national efforts to improve environmental laws by providing clients with strategic counseling and campaign implementation. McGavick received a bachelor's degree in political science from the University of Washington. Conway has held his current position since July 1993. He previously served as senior vice president, Marketing Department, from 1992 to 1993, and vice president, from 1990 to 1992. In 1981, he was named head of the CNA Midwest Region with responsibility for insurance operations in 13 states, and held this position until 1990. In 1980, he became vice president of property/liability product management, after being named vice president of property/liability distribution in 1978 and appointed assistant vice president of property/liability product management in 1977. Conway joined CNA in 1976 as director of commercial lines marketing. He has earned the designation of Chartered Property Casualty Underwriter (CPCU) and is a member of the Society of CPCU. He also is a member of the Advisory Council of the DePaul University College of Commerce. Conway graduated from Villanova University. CNA is one of the world's premier insurance organizations. With 1996 revenues of $17.0 billion, CNA ranks among the top 10 U.S. insurance groups. Headquartered in Chicago, CNA is a leading multibusiness insurer, serving individuals and businesses with a broad range of insurance products and insurance-related services. CNA products and services are marketed through multiple distribution channels, including independent agents, brokers, general agents and direct sales. In 1997, CNA observes its centennial year, celebrating a century of financial strength, stability and commitment to customers and business partners. CNA is the registered service mark and trade name of CNA Financial Corporation. -----END PRIVACY-ENHANCED MESSAGE-----