SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) - November 29, 1999
HSB Group, Inc.
(Exact name of registrant as specified in its charter)
Connecticut 001-13135 06-1475343
(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification
No.)
One State Street, Hartford, Connecticut 06102-5024
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code - (860-722-1866)
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Item 5. Other Events
On November 29, 1999, HSB Group, Inc. (the "Company") issued a press release
announcing the election of Richard H. Booth as president and chief executive
officer of the Company effective January 1, 2000 and the retirement of Gordon W.
Kreh during 2000. Included herewith as Exhibit 99 is the Company's press release
related to this announcement and such information is incorporated herein by
reference.
Item 7. Exhibits.
99. Press release dated November 29, 1999.
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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.
HSB Group, Inc.
Dated: November 29, 1999 /s/ R. Kevin Price
R. Kevin Price
Senior Vice President
and Corporate Secretary
Exhibit 99
CONTACT:
Dennis Milewski,
(860) 722-5567
FOR IMMEDIATE RELEASE
HSB GROUP, INC. NAMES RICHARD H. BOOTH
PRESIDENT AND CHIEF EXECUTIVE OFFICER
HARTFORD, Conn., November 29, 1999 -- HSB Group, Inc. (NYSE-HSB) announced today
that Richard H. Booth has been elected president and chief executive officer
effective January 1, 2000. He succeeds Gordon W. Kreh, who announced his
intention to retire from HSB Group during 2000. Mr. Kreh will remain as chairman
of the board of directors until his retirement and will assist Mr. Booth during
the management transition.
Mr. Booth, 52, has been a member of HSB Group's Board of Directors since July
1996 and is currently executive vice president of strategic development of
Phoenix Home Life Mutual Insurance Company, a position he has held since 1994.
Prior to joining Phoenix, Mr. Booth served as president, chief operating officer
and a director of The Travelers Corporation from 1991-1994. "HSB is a great
organization with a leading position in specialty insurance and a unique
engineering business," said Mr. Booth. "I am pleased to have the opportunity to
serve such a well respected company. I have enjoyed working with Gordon on the
board; his perspective, guidance and support will be important to me."
Mr. Kreh said: "I have thoroughly enjoyed my nearly thirty years of association
with HSB. I am very confident that Richard's business acumen, management skills
and enthusiasm position him well for this new assignment. I look forward to
continuing to work with him."
Mr. Booth is a director of Phoenix Home Life, Phoenix Investment Partners, Ltd.,
Aberdeen Trust PLC, and CuraGen Corporation. He is chairman of the Greater
Hartford Arts Council's United Arts Campaign 2000, a member of the Corporate
Associates Advisory Board of the Nature Conservancy, the Board of Fellows of
Trinity College and a board member of the World Affairs Council. He is also a
past member of the board of trustees and treasurer of the Wadsworth Atheneum.
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Mr. Kreh joined The Boiler Inspection and Insurance Company of Canada, a
subsidiary of HSB Group, in 1971. In 1988, he was named senior vice president of
Engineering Insurance Group, an affiliate of the Company, and became its
president in 1989. He became senior vice president of the Company in 1992,
president in 1993, chief executive officer in 1994 and was elected chairman of
the board in 1998. Mr. Kreh is a board member of the American Insurance
Association, and a director of The Hartford Steam Boiler Inspection and
Insurance Company, The Boiler Inspection and Insurance Company of Canada and HSB
Engineering Insurance Limited, affiliates of the Company. He is also a director
of HSB Industrial Risk Insurers and president of the board of directors of the
Greater Hartford Arts Council and a trustee of the Wadsworth Atheneum.
HSB Group, Inc., the parent company of The Hartford Steam Boiler Inspection and
Insurance Company, is a global provider of specialty insurance products,
engineering services and management consulting. The Hartford Steam Boiler
Inspection and Insurance Company was founded in 1866 to provide loss prevention
service and insurance to businesses, industries and institutions. For more
information about HSB, visit its web site at www.hsb.com.
