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Penn Treaty Pioneer To Give Up CEO Title

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NU Online News Service, May 14, 6:15 p.m. – Penn Treaty American Corp., Allentown, Pa., says Irving Levit, its chairman and chief executive officer, will keep the chairman title but give up the CEO title at the end of the year.

Levit helped turn his company into one of the pioneers in the U.S. long-term care insurance insurance industry, but the company has had to work hard over the past year to ease regulators’ concerns that it might need more capital to support its obligations to policyholders.

Penn Treaty says William Hunt, formerly a senior vice president for finance, will become the company’s president and chief operating officer.

Cameron White, another Penn Treaty executive, will become the company’s new chief financial officer, and a third company executive, James Heyer, will become the senior vice president for risk management.


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