Fred Eppinger's mark

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One of the first key-player names any newcomer to the Worcester business community learns is Frederick H. Eppinger.

Eppinger, president and CEO of The Hanover Group, announced he would step down from his position as soon as a successor is appointed. At 56, Eppinger said in a statement he looks forward to new professional opportunities, spending more time with family, and pursuing personal interests.

His colleagues at The Hanover are eager for Eppinger to maintain his Worcester community ties. As he resurrected The Hanover after a bad turn in the early 2000s to become a national property and casualty insurance company with a global reach, he’s also been a champion of a number of Worcester causes.

What is Eppinger's legacy at The Hanover?

Eppinger, a Central Massachusetts native, joined The Hanover as president and CEO in 2003. The company had recently sold off large portions of its legacy life insurance business after the poor performance of its variable annuity business, which led to major losses.

Bowditch and Dewey’s Michael P. Angelini, chairman of the board at The Hanover, recalls coaxing Eppinger from his senior-level job at The Hartford. Eppinger was a “real star” at The Hartford, and had a wealth of experience from his days as a partner at McKinsey & Co. His local connection was also attractive.

“He had ideas of how to build a world-class property and casualty company and that’s exactly what he did,” Angelini said.

Since then, The Hanover’s stock price has appreciated by about 250 percent, and revenue has more than doubled, according to the company. Meanwhile, The Hanover, formerly Allmerica Financial Corp., evolved from a regional company to one that writes business in more than 200 countries.

And his contributions to the city?

Angelini noted that Eppinger was personally committed to civic engagement and that carried over to the office. Under Eppinger, corporate giving programs supporting the public schools and local nonprofits, such as The United Way of Central Massachusetts, were enhanced, and he helped lead city revitalization efforts, from the development of City Square to the rejuvenation the The Hanover Theater.

Theater president and CEO Troy Siebels recalled Eppinger’s approach to the renovation — a project to which The Hanover donated $3 million in a naming-rights gift. Eppinger pushed for the construction of the glass lobby pavilion as a new addition to the building.

“It can’t just be done half-way,” Siebels said, echoing Eppinger.

Who will take his place?

The Hanover may never see another Eppinger, but Angelini said the search committee to find his successor is confident that a well-qualified executive will take his place, as there’s been a lot of interest in the job. Eppinger has said he’ll be available through the transition in leadership, until June 30, 2016.

“I have no doubt that we’ll be able to find a first-rate candidate,” Angelini said.