Farmers Insurance has appointed Thomas Noh (pictured) to serve as the new chief financial officer of the Farmers Insurance Exchanges – three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange) that are owned by their policyholders.
Noh replaces Ron Myhan, who has served Farmers Insurance for nearly 40 years.
Since joining Farmers in 1996 as a specialist in the accounting department, Noh has held a number of positions in finance. He most recently served as head of claims analytics and exchange finance strategy. Prior to joining Farmers, Noh worked for companies such as Executive Life, Transamerica and Allianz.
Noh also served in the US Army Reserve, retiring as a Lieutenant Colonel after spending 24 years as a finance and civil affairs officer.
“Thomas Noh’s deep financial knowledge and breadth of experience with Farmers makes him the ideal individual to be chief financial officer (CFO) of the Exchanges,” commented Farmers Insurance Exchange board of governors chair Alan Gildemeister in a statement.
Gildemeister also expressed the company’s thanks to Myhan for his many contributions over his long career as CFO of the exchanges.