Gregg Tumeinski to Succeed Cynthia Lawlor as CFO

FOR IMMEDIATE RELEASE

Gregg Tumeinski has been named Chief Financial Officer at The Beacon Mutual Insurance Company. Tumeinski will succeed Cynthia Lawlor who is retiring after more than 28 years at Rhode Island’s largest workers’ compensation insurer.

“Cindy has been a trusted leader for more than two decades at Beacon Mutual. As our CFO, she has an outstanding track record of financial strength, stability and operational excellence. I join the entire senior leadership team in celebrating her career and wish her all the best,” said Brian J. Spero, President & CEO at The Beacon Mutual Insurance Company.

Raymond C. Coia, Chairman of the Beacon Mutual Board of Directors added, “Cindy has been a key contributor to the success of our organization through her leadership, business acumen, strategic vision and relentless focus on results. We look forward to continued success under the leadership of our new CFO as we welcome Gregg Tumeinski to the Beacon family.”

As CFO at Beacon, Tumeinski will develop and execute the corporate financial, operational, and strategic plan for the organization. He will supervise the finance unit at Beacon Mutual and provide guidance on all strategic and tactical matters as they relate to budget management, treasury and investments, reinsurance, cost–benefit analysis, financial reporting and forecasting needs. As a member of Beacon’s Senior Management Team, he will provide his leadership in corporate strategic and financial planning, as well as project governance.

Tumeinski joins Beacon having twenty-five years of experience in the property and casualty insurance industry with national insurance carriers. Prior to joining Beacon, he served as Financial Officer of Field Finance and Agency Compensation at Hanover Insurance where he managed the Field Finance team to enhance business performance through improved reporting, planning and analysis across the organization. Before joining Hanover Insurance, Tumeinski spent eleven years at Liberty Mutual in various leadership roles that allowed him to work closely with all functions including underwriting, sales, and actuarial to provide analysis and recommendations to help drive profitable growth.

Spero welcomed Tumeinski, “We are delighted to welcome Gregg to Beacon Mutual as our new CFO. His extensive experience in corporate finance and business operations in the insurance industry will be highly valuable to us as we implement our long-term strategy. I look forward to working closely with Gregg to execute our business initiatives and drive profitability.”

“Joining Beacon Mutual provides me with an exciting opportunity to contribute to a Rhode Island market leader and a highly committed team. I am thrilled to work with the leadership team and the entire organization to drive our strategy, and help deliver value to our agents and policyholders,” said Tumeinski.

Tumeinski holds a Bachelor of Science in Business Administration from Worcester State University and a Master of Science in Finance from Bentley University.