December 22, 2020
Former Vice President and Chief Operating Officer of The Hanover Group, Michele Streton, accepts new role as President and Chief Executive Officer of Providence Mutual
WARWICK, RI: Providence Mutual, a mutual property and casualty insurance company, announced the appointment of former Hanover Group Vice President and Chief Operating Officer, Personal Lines, Michele Streton, as the company’s new president and chief executive officer-elect. Michele will join Providence Mutual on January 4, 2021, and will be elected to the role during the company’s Annual Policyholder Meeting on February 23, 2021. Following the meeting, Providence Mutual’s current President and Chief Executive Officer, Sandra Parrillo, will retire after serving the company for over 40 years. She will continue to serve as a member of the Board of Directors.
Michele brings more than 20 years of experience in the insurance industry to Providence Mutual, including a variety of leadership roles in policy servicing and sales, auto and property claims, as well as product and state management across three large national insurance carriers.
“For me, Providence Mutual is my home and my family. We have a strong company here. We have a very strong balance sheet and a powerful culture,” says Sandy. In 2000, Sandy Parrillo was elected as Providence Mutual’s twelfth President and Chief Executive Officer and its first female leader. In 2018, she announced her anticipated retirement to the Board of Directors. Sandy continues, “It was of utmost importance that we select the right individual for this role — and Michele is that leader.”
“We are pleased to announce that Michele Streton will join Providence Mutual as President and CEO,” states Alan Litwin, Chairman of the Board. “Michele’s impressive and extensive background in the insurance industry and her passion for our mission, our independent agents, and our employees will serve as valuable assets as she leads Providence Mutual forward. We greatly appreciate and thank Sandy Parrillo for her leadership, dedication, and commitment to Providence Mutual. We wish her well in her retirement.”
Most recently in her position at The Hanover Group, Michele led personal lines policy operations with over 300 employees, managed agent and policyholder customer service, internal sales, and market consolidation. With her deep understanding of growth, profitability, and strategic leadership, Michele will continue to build upon Providence Mutual’s strong foundation with its employees, agents, policyholders, and business partners.
“It is an honor to be selected as Providence Mutual’s President and CEO and continue the legacy of female leadership,” says Michele. “I am confident in the future of the company and I look forward to working with our leadership team, employees, independent agents, and business partners to further our mission to provide service, security, and stability to our policyholders.”
About Providence Mutual:
Providence Mutual is a mutual property and casualty insurance company providing auto, home, and business owners coverage to individuals and businesses. Providence Mutual writes and manages over $95 million in written premium in Rhode Island, Massachusetts, Connecticut, New Hampshire, Maine, lower New York, and New Jersey through select independent agents. Chartered in 1800, Providence Mutual is the oldest mutual insurance company in New England and the fifth oldest in the United States. Providence Mutual understands the value of each policyholder and places an emphasis on personalized claims, underwriting, and customer service.