Hanover Insurance Group named Chief Operating Officer Richard W. Lavey as CEO-elect on July 15, 2026, positioning him to succeed John C. Roche, who plans to retire at the end of the year after 40 years in the insurance industry. Lavey, 59, who has spent 22 years at Hanover since joining in 2004, will assume the top role on January 1, 2027, following a transition period during which the two executives will work together to ensure continuity.
Roche, 62, was appointed president and CEO in October 2017. Under his leadership, the company achieved record operating earnings and strengthened its position as a premier property and casualty insurer in the independent agency channel. “I will retire at the end of the year with tremendous pride in all our organization has accomplished,” Roche said in the announcement. “The company is in a strong financial position and has the exceptional talent needed to drive our business forward.”
Lavey has held a series of executive leadership positions throughout his tenure, including chief marketing officer, chief growth innovation officer, president of personal lines, and president of the organization’s northeast region. Currently, he serves as chief operating officer and president of Hanover Agency Markets, overseeing the company’s core commercial and personal lines business, which combined represent 75 percent of Hanover’s $7 billion in consolidated gross premiums written. Lavey directs the strategic transformation of the company’s operating model and leads the partnership between its business and technology functions.
Before joining Hanover, Lavey held leadership roles in sales, distribution, marketing, and strategy at insurance and technology companies including The Hartford and Travelers Insurance Company. He brings more than 35 years of experience in the insurance and technology sectors. Lavey is a Phi Beta Kappa graduate of the College of Holy Cross and earned his MBA from Harvard Business School. He recently served as chairman of the board for the National Council on Compensation Insurance (NCCI).
Cynthia L. Egan, chair of the board at Hanover, praised both executives in the announcement. “Dick is an accomplished executive whose deep experience spans the insurance and technology industries,” Egan said. “His impressive contributions have been central in the successful expansion of the company’s strategy, shaping Hanover into a leading partner for independent agents and a top-performing company.” She noted that Roche’s partnership with Lavey in planning the transition demonstrates the company’s strength in developing internal leadership talent.
Hanover will be available to answer questions about the succession plan at its earnings call scheduled for Wednesday, July 29, 2026. The company also plans to share an update on its strategy and future outlook at an investor day on September 17, 2026.
Sources
- PR Newswire — Official announcement of CEO succession plan, Roche’s retirement date, Lavey’s appointment as CEO-elect, and their biographies
- Investing.com — Confirmation of Roche’s 40-year insurance career and December 31, 2026 retirement date
- Carrier Management — Details on Lavey’s 22-year tenure and executive positions at Hanover
