Vermont Mutual Insurance Group Completes Leadership Succession Plan
Vermont Mutual has finalized its leadership succession plan with Company President, Mark J. McDonnell, accepting the role of CEO for the Group. McDonnell replaces outgoing CEO and current Board Chair, Daniel C. Bridge, who is set to retire from Vermont Mutual on December 31, 2024. An additional key component of the plan is the promotion of Brody N. Gilbert, currently SVP of Finance and Operations, to Executive Vice President and COO.
Retiring CEO and Board Chair, Dan Bridge, has enjoyed a distinguished career in the property casualty business that has spanned more than 40 years. Bridge first joined Vermont Mutual in 2009 and was named President of the Company on April 15, 2015 and accepted the role of CEO in July of 2015. Under Bridge’s leadership Vermont Mutual enjoyed industry-leading results growing Direct Written Premium from $334M in 2014 to over $800M in 2024. During that same period the company produced a 10-year 93% Combined Ratio and grew policyholder surplus from $332M to $850M. In addition, the Company has been named a Ward Group Top 50 U.S. Property and Casualty company for the past 16 consecutive years and one of the Best Places to Work in Vermont the past 9 years.
Bridge remarked “While my career has spanned several decades, the last 15 years in a leadership role at Vermont Mutual has been the most rewarding and the highlight of my career, producing industry-leading insurance results in a collaborative and people-focused environment. With the importance we have historically placed on succession, we are poised to produce even better results as Mark and Brody lead a talented and committed team.” After his retirement, Mr. Bridge will continue to play an integral role on the Group’s Board of Directors.
McDonnell first joined Vermont Mutual as Senior Vice President in 2014 and was named Executive Vice President and COO in 2015 and named the Company’s 18th President in April of 2024. Accepting the role of CEO, McDonnell remarked “It is my honor and privilege to accept the role of CEO of our nearly 200 year old company and to work alongside a talented and dedicated team of management and staff and partner with the finest Independent Agents in the Northeast.” McDonnell continued, “Having worked closely with Dan these past 10 years, I will certainly miss our daily interactions, but wish him well as he begins this much deserved next chapter of his life. I also look forward to partnering with Brody as he expands his responsibilities in his elevated role.”
Lead Independent Director, Bill Cody, commenting on the completion of this succession plan said, “On behalf of the Board I would like to thank Dan for his years of service and the exceptional results Dan and Team have produced.” Cody continued, “We feel with Mark’s elevation to CEO and Brody’s promotion to COO, we have two proven leaders in place. We are well positioned to build on the great foundation Dan leaves behind, which has been the focus of our succession strategy for many decades at Vermont Mutual.”
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Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Security Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 600 independent agencies, the Group insures over 330,000 policyholders, with a direct written premium of more than $800,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past 16 consecutive years. For more information, please visit: VermontMutual.com.
