NJM Insurance announces retirement of key executive hires successor

NJM Insurance Co., a New Jersey-based property-casualty insurer, announced that its senior vice president and chief financial officer will retire, effective Dec. 31.Charles A. Prall, who was with NJM for three decades, will be succeed by Alastair C. Shore.

“NJM has benefited tremendously from Charlie Prall’s expertise, guidance and commitment to our policyholders both as a member of our executive leadership team and the board of directors, and he will surely be missed,” NJM CEO and President Bernie Flynn said.

“For more than 30 years, I have had the privilege of calling NJM home,” Prall said. “During that time, the company has grown significantly, without ever having lost the focus on policyholders that keeps it from becoming ‘just another insurance company.’”

Shore has more than 25 years of experience in property-casualty insurance. He was most recently with CUNA Mutual Insurance Group as its executive vice president and chief financial officer.

“We are excited that Alastair will be joining our team,” Flynn said. “His background and expertise position him to begin making immediate contributions in support of our mission to provide value-based insurance solutions with the highest levels of service, integrity and financial stewardship.  Alastair brings a wealth of experience into the role, including an understanding of the policyholder focus of the mutual model — an understanding that is essential to success with NJM.”

In addition to his new role, Shore will be a member of NJM’s executive leadership team. He will also report directly to Flynn.

“It’s an exciting time to be joining NJM as it evolves to meet the changing needs of its policyholders. I look forward to playing an active role in helping to shape the next chapter of the company’s developing story,” Shore said.

Prall and Shore will work closely throughout the month of December to ensure a smooth transition, Flynn said.