Meadowbrook Insurance Group has announced that its founder and chairman, Merton Segal, will retire as an employee of the company effective September 30, 2008.

Mr Segal founded Meadowbrook in 1955 as Meadowbrook Insurance Agency. Under his leadership, Meadowbrook has grown from a start-up local retail agency into a specialty risk management insurance company.

Mr Segal will continue to serve on the board of directors as a non-executive chairman and will also be a consultant to the company effective October 1, 2008.

Robert Cubbin, president and CEO of Meadowbrook, said: Mert is one of the most respected pioneers in the field of alternative risk management, setting up clients into self-insured plans and into insurance companies owned by the policy holders. We are committed to continuing this legacy of innovation, service and integrity at Meadowbrook.