RESUME - Lester J. Hunt

Lester J. Hunt

Hinsdale, Illinois

773-412-3134 (Cell)

E-mail: Hunles@aol.com

Summary

Results driven senior executive with diverse leadership experience in the insurance industry. Background includes both operating and financial responsibility for a national direct response insurance organization, and a broad base of experience with regulatory and compliance issues. Excellent skills in team building, negotiating contracts, strategic and operational planning, financial benchmarking and accounting policies. Innovative problem solver and experienced decision-maker.

Professional Experience

Navco, National General Insurance Co., St. Louis, MO . . . . . . . . . . . . . 1986 - 1999

A $500 million direct response personal line insurance business, consisting of four subsidiary companies, and part of the insurance family of GMACI (formerly Motors Insurance Corporation).

Senior Vice Prosident and Treasurer (1997 - 1999)
Vice President and Treasurer (1986 - 1996)

Directed all corporate finance, accounting, actuarial pricing and loss reserve review, strategic planning and analysis, and management information. Served as one of three members of Chairman's Executive Committee which formulated strategic direction of the company. Reported to the President.

Developed, coordinated, and implemented strategic and tactical plans which through a blend of acquisition and organic growth, grew a direct response insurance organization from $56 million to $500 million in annual written premium.
Built a management team focused on exceeding expectations through innovative planning and highly developed decision making tools which achieved consistent premium growth while maintaining a five year annual return on capital in excess of 22%.
Led contract negotiations with major Affinity Group clients (e.g. Good Sam Recreational Vehicle Club, Aid Association for Lutherans, etc.) which resulted in innovative contractual agreements and established the foundation for successful long-term relationships.
Devised a "new customer lifetime value" model to evaluate potential long-term profitability for 35 million annual targeted mailings and ensure financial validation of all other media-marketing programs.
Established a benchmarking process based upon quantifiable "customer value added" criteria for each major personal lines competitor which facilitated highly focused marketing and pricing strategies.
Restructured the employee retirement and benefit package to create awareness and linkage to operating performance with no additional cost to the organization.
Reengineered corporate planning, budgeting, and financial analysis processes to focus on specific business segment growth, customer acquisition cost, profitability, and ROE.
Improved operational performance over 25% from 1996 through 1998 by implementing expense reduction programs directed to the underlying functional workloads of operating units.

Crum & Forster Personal Insurance Company, Dallas, TX . . . . . . . . . . 1983 - 1986

A $400 million independent agency personal lines insurance subsidiary of Crum & Forster Insurance Group.

Controller-Southwest Region (1983-1986)

Prepared annual operating plan and pricing strategy and gauged performance and expense management for a $200 million insurance operation.

Catalyzed management team to formulation of agent programs which improved the combined ratio from 112% to 103% within 18 months.

Allstate Insurance Company, Northbrook, Illinois . . . . . . . . . . . . . . . . . . 1969-1983

An $18.7 billion captive and independent agency insurance company engaged in property/casually and life insurance.

Regional Controller (1977-1983)

Directed annual operating and strategic planning, financial analysis, and operational direction for two regional offices with over $300 million in revenue.

Worked in various capacities of increasing responsibility in Underwriting, Auditing, Home Office Executive Information, and Financial & Planning, leading to the position of Regional Controller.

Education & Training

Massachusetts Institute of Technology
I.T. for Non-I.T. Executives 1999

California Institute of Technology
Activity Based Costing, 1997

Roosevelt University, Chicago, Illinois
BSBA - Accounting, 1968

C.P.A., Illinois

Professional Affiliations

American Institute of Certified Public Accountants

National Association of Independent Insurers

Insurance Accounting Systems Association

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