Leading Ohio Insurance Carrier Appoints New CEO with Agent Experience

Cincinnati Insurance Companies (Cincinnati), founded by four Ohio independent insurance agents in 1950, continued the legacy of an agent-experienced leader by appointing Steve Spray as their new CEO. The original independent agent founders created the company because they wanted an insurer “focused on relationships and care, where everyone matters.” Steve Spray’s experience and agent engagement will further solidify that mission with Cincinnati policyholders and their agency partners.

A Bowling Green State University graduate, Spray joined Cincinnati in 1991 and has held various positions with the company, each increasing in scope and responsibilities. From 2011 to 2016, Steve was responsible for sales and marketing, including management of field underwriters and independent agency relationships. Spray led the company’s commercial lines operations from 2016 until 2019 and served as chief insurance officer of the property casualty subsidiaries from 2019 until 2022. Steve worked as a producer for an independent insurance agency early in his career.

Matt Simon, CIC, CPCU, President of CoverLink Insurance, shared this about Spray, “The Cincinnati Insurance Companies have a stellar track record about leadership succession, and after working with Steve for nearly 20 years, he perpetuates that legacy. His integrity is second to none; he’s accessible and steadfastly committed to independent agents. Our industry is better because of Steve.”

Cincinnati is ranked #534 on the Fortune 1000 list with $6.6B in revenue. The company distributes exclusively through approximately 2,000 independent insurance agencies in 46 states and DC.

As Ohio’s largest commercial lines insurer, Cincinnati has a 7% market share and $592M in Direct Written Premium (DWP). Cincinnati ranks #13 in personal lines with a 2.3% market share and $259M DWP. Cincinnati is Ohio’s 7th largest P&C insurer with a 4.1% market share and $857M in DWP.

Cincinnati was among the highest-ranked carriers in the OIA’s Carrier Satisfaction Survey – occupying 3 ranked spots in the 10 categories. Agents rated Cincinnati a 4.62 out of 5 for Company Management, so Spray starts from a strong place from the agents’ vantage point.

Longtime volunteer leader of OIA Brent Phelan, JD, CPCU, CRM, and owner of Phelan Insurance,  stated: “Exciting news for Cincinnati Insurance Companies. Steve is an impressive business leader, and Cincinnati will remain in great hands moving forward!”

For more information on Cincinnati, OIA’s Carrier Satisfaction Survey, or other carrier news, please get in touch with Dustin Mahrt, OIA’s Company Partners Manager, at dustin@ohioinsuranceagents.com.

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