The American Equity Underwriters, Inc. (AEU, an Amwins Company), the leading provider of workers’ compensation insurance for waterfront employers and program administrator for American Longshore Mutual Association Ltd. (ALMA), announced Adele S. Hapworth will succeed Michael L. Lapeyrouse as the company’s Chief Executive Officer, effective June 1, 2021. Lapeyrouse will assume the role of Chairman for AEU.
As CEO, Hapworth will continue to build upon AEU’s foundation of serving ALMA members through transparency, creativity and innovation.
Hapworth joined AEU in 2007 and has served in leadership roles including Director of Product Development, Executive Vice President and Chief Operating Officer.
“Adele has been instrumental in the success of every major strategic initiative at AEU over the past 14 years,” said Lapeyrouse. “She has the operational knowledge and visionary mindset to lead AEU into its next chapter.”
Lapeyrouse, who has served as President and CEO of AEU since its inception in 1993, was responsible for founding ALMA in 1997. As Chairman of AEU, he will continue to work closely with the AEU executive leadership team on key operational matters and strategic initiatives. He will remain in his role as President of ALMA and continue serving on ALMA’s Board of Directors.
Under Lapeyrouse’s leadership, AEU has grown to serve more than 1,400 waterfront employers with nearly $3 billion in payroll. Based in Mobile, Ala., AEU employs 138 individuals across the U.S. and has twice been named one of the Best Companies to Work For in Alabama.
“The growth and success AEU has experienced under Mike’s leadership is extraordinary,” said Hapworth. “I’m humbled to have the responsibility of driving the vision and culture of service that Mike so passionately created. I look forward to working together with him and our entire team on the exciting opportunities that lie ahead.”
In addition to Hapworth’s transition to CEO, H. Winchester Thurber, IV will join the executive leadership team of AEU in the newly created role of Chief Commercial Officer. Thurber joined AEU in 2012 to drive business development initiatives for AEU and brings decades of leadership experience in the maritime industry to this new role.
“Winchester’s decades of experience building relationships with waterfront employers gives him a unique perspective on what our customers truly value,” said Hapworth. “His leadership and perspective will be instrumental as we continue to differentiate ourselves further.”
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