Mr. Babiak joined Hastings Mutual in 2001 as the Vice President of Financial Services. Mr. Babiak also served as the Senior Vice President of Insurance Operations before being selected President and CEO in 2012. Renee Beauford, Senior Vice President of Operations, has been selected to succeed Mr. Babiak as President and CEO.
During Mr. Babiak’s time as CEO, Hastings Mutual’s surplus grew to over $560 million. The company’s total assets have grown to over $1 billion, and Direct Written Premium has increased to just under $400 million. Under Joe’s leadership, the company has undertaken a complete modernization of operations, including all core systems, company website, agent portal, enhanced cybersecurity, robotic process automation, data warehouse, and state of the art data reporting tools. In addition, a complete modernization of the home office facility was completed in 2021.
Ms. Beauford was selected to take on the role of President and CEO at Hastings Mutual as part of an organized, long-term succession plan. She has nearly 30 years of experience and knowledge of the insurance industry, and her broad management and executive leadership experience make her an ideal candidate to fill this position.
Ms. Beauford joined Hastings Mutual as Director of Field Claim Operations in 2007 and was promoted to Vice President – Chief Claim Officer in 2012. Over the past 10 years, she has gained executive leadership experience in Actuarial Services, Product Development, Marketing, Claim, and Underwriting. Ms. Beauford most recently held the position of Senior Vice President of Operations in preparation for this planned succession.
Ms. Beauford earned her Bachelor of Science in Management from Purdue University. Her insurance designations include Associate in Claims and Senior Claim Law Associate. For the past 10 years, Ms. Beauford has served on the Board of Directors for several community organizations.
The company would like to thank Mr. Babiak for his strong leadership and vision over the past 21 years. We congratulate him on his retirement. We wish a warm welcome to Ms. Beauford as our new President and CEO.