Bill Cunningham is Albano’s successor at Travelers

Travelers Cos. Inc. turned to longtime company insider William E. Cunningham to succeed John J. Albano in running the Hartford property-casualty giant's business insurance segment.

Cunningham, who was senior vice president in the segment, was promoted to executive vice president and begins his new assignment, effective March 1.

Travelers announced that Albano, who has run business insurance as executive vice president since 2005, is cutting back to part time at the company so he can pursue outside interests. According to Forbes magazine, Albano, 59, joined Travelers in 1971 in commercial lines marketing and underwriting in Long Island.

"Bill has a tremendous depth of underwriting and leadership experience across our commercial lines businesses and is the stand-out choice to continue building on the success and strong organization that John has built," said Brian W. MacLean, president and chief operating officer.

Cunningham began his career with Travelers in 1987 in commercial accounts, moving steadily into various leadership roles at the company, including running national accounts and commercial accounts businesses. He also is a member of the management committee.