John Leonard, president and CEO of MEMIC Group, has been named to an advisory board for the Federal Reserve Bank of Boston.
Leonard has been appointed for a two-year term with the bank’s New England Advisory Council. The council meets quarterly to provide regional insight into business and economic activity that helps the Fed make decisions.
The Federal Reserve Bank of Boston is part of the Federal Reserve System, the country’s central banking authority. The regional Fed banks oversee implementation of federal banking policies and collect data for use by the Federal Reserve Board.
MEMIC Group, which started as Maine Employers’ Mutual Insurance Co., is the largest workers’ compensation insurer in northern New England and among the fastest-growing in the country, according to a news release from the company. Leonard brings a perspective on the workforce, regional payroll and investments in the business sector in the region.
The company holds more than $1 billion in assets with offices from Maine to Florida. In 2015, it wrote premiums of nearly $309 million.
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