NFP, a portfolio company of Madison Dearborn Partners, said Monday that it has named Dennis Chookaszian to the board of managers of Patriot Investment Holdings, NFP’s parent company. The appointment is effective immediately. Chookaszian is the former chairman and CEO of CNA Insurance Companies. NFP is a provider of benefits, insurance and wealth management services.
NEW YORK, Oct. 7, 2013 /PRNewswire/ — NFP, a leading provider of benefits, insurance and wealth management services, today announced that Dennis Chookaszian, former chairman and chief executive officer of CNA Insurance Companies (CNA), has joined the board of managers of Patriot Investment Holdings, LLC, NFP’s parent company, effective immediately.
Commenting on today’s announcement, Douglas W. Hammond, chairman and chief executive officer of NFP, said, “We are thrilled to welcome Dennis Chookaszian to our board. In addition to Dennis’ invaluable experience leading one of the country’s largest property and casualty insurers, he will bring tremendous financial, operational and technology expertise to NFP, which will be instrumental in driving the continued successful execution of our One NFP strategy.”
Commenting on his election to the board of managers, Mr. Chookaszian said, “I am honored to join the board, and look forward to building on the company’s success with the talented teams at NFP and Madison Dearborn Partners.”
Mr. Chookaszian served as chairman and chief executive officer of CNA from 1992 to 1999, and as chairman of the CNA Executive Committee from 1999 to 2001. Prior to joining CNA in 1975 and holding various executive roles during his tenure, Mr. Chookaszian began his career as a management consultant with Deloitte. During his career, Mr. Chookaszian has served as a director on the boards of eleven publicly traded companies, including the Chicago Mercantile Exchange, the world’s largest derivatives exchange, as well as a number of private companies. Mr. Chookaszian is currently an adjunct professor at the University of Chicago Booth School of Business, a member of the Financial Crisis Advisory Group, on the national board of the Boy Scouts of America, and was formerly the chairman of the Financial Accounting Standards Advisory Council. In 2010, Mr. Chookaszian received the Outstanding Director Award from the Financial Times Outstanding Directors Exchange.
National Financial Partners Corp. (NFP) and its benefits, insurance and wealth management businesses provide diversified advisory and brokerage services to companies and high net worth individuals, partnering with them to preserve their assets and prosper over the long term. NFP advisors provide innovative and comprehensive solutions, backed by NFP’s national scale and resources. NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, retirement plans, and property and casualty insurance. The Individual Client Group includes retail and wholesale life insurance brokerage and wealth management advisory services. The Advisor Services Group serves independent financial advisors by offering broker/dealer and asset management products and services. Most recently NFP was ranked in the top 10 on Business Insurance’s 100 Largest Brokers of U.S. Business and Best’s Review’s Top Global Insurance Broker lists; second on Business Insurance’s Largest Agents and Brokers Headquartered in the U.S. Northeast; it operates the third-largest executive benefits provider of nonqualified deferred compensation plans by total clients, as ranked by PlanSponsor; and operates a top 10 independent broker/dealer as ranked by Investment Advisor. NFP is also a leading independent life insurance distributor according to many top-tier carriers. For more information, visit www.nfp.com.
ABOUT MADISON DEARBORN PARTNERS
Madison Dearborn Partners, based in Chicago, is a leading private equity investment firm in the United States. Since Madison Dearborn’s formation in 1992, the firm has raised six funds with aggregate capital of over $18 billion and has completed approximately 125 investments. Madison Dearborn invests in businesses across a broad spectrum of industries, including financial and transaction services; basic industries; business and government services; consumer health care; and telecom, media and technology services. Its noteworthy investments include CapitalSource, Nuveen Investments, PayPal, TransUnion and EVO Payments. For more information, please visit www.mdcp.com.