Farmers Insurance Group, which entered the Hawaii market three years ago, has dismissed Hawaii President Michele Saito as part of a restructuring by the Los Angeles-based company.
Saito’s departure was effective Monday and she will not be replaced, according to Mark Toohey, corporate spokesman for Farmers in Los Angeles. He said Wednesday the executive team that had been reporting to Saito will now report to corporate executives.
Toohey said the change was tied to Farmers’ $1.9 billion purchase of AIG subsidiary 21st Century Insurance Group in July 2009. AIG Hawaii changed its name to Farmers Insurance Hawaii on Jan. 1, 2010.
"There’s been some reorganization and restructuring as a result of that, and that is what led to Michele’s departure," Toohey said.
Toohey said Farmers doesn’t have presidents at any of its local offices in the other 49 states.
Saito, who could not be reached for comment, became president in January 2010 after Robin Campaniano retired as president and CEO following 17 years with the company.
Saito, who had been with the company since 1984, serves on several boards, including the University of Hawaii Alumni Association, Aloha United Way, the Honolulu Japanese Chamber of Commerce, Hawaii Pacific University and Child & Family Services, and also as a troop leader for the Girl Scouts of Hawaii.
In 2009, AIG Hawaii was the third-largest writer of automobile policies in the state, had 310 employees statewide and 65,000 auto insurance customers representing about 100,000 cars. Updated numbers were not available late Wednesday.
