Seguros Múltiples names Lugo Meléndez as CEO
SAN JUAN – After four decades with the company and briefly serving as its executive vice president, insurance and finance veteran Juan A. Lugo Meléndez began the new year as CEO of Grupo Seguros Múltiples and president of Cooperativa de Seguros Múltiples of Puerto Rico (CSMPR).
Lugo is now at the helm of the San Juan-based cooperative, which specializes in property, casualty, marine transportation and title insurance. It has eight branches, more than 150 authorized representatives and 350 employees.
Lugo started in Seguros Múltiples in 1971 as an accountant and later became vice president of finance. In 2001, he retired, but in 2009 reestablished his relationship with the co-op as a finance consultant, specialized in investments and the reinsurance market, and became member of various advisory committees supporting management and the board.
“I’m a creature of Cooperativa de Seguros Múltiples, a company that has been my home and center of my professional development for more than half my life. I take on this new responsibility with full understanding of the times and the enormous legacy of Seguros Múltiples, as well of what the company represents for our country.
“It’s an honor to serve this bastion of the co-op movement, which I consider a heritage company to which I will take great care in the service of thousands of insured clients that trust us and of the Puerto Rican co-op movement,” Lugo said in a release announcing his appointment.
Lugo has been recognized for his achievements as the chief promoter of the company’s contemporary art collection, considered among Puerto Rico’s premier collections. His contributions to the arts include presiding the San Juan Biennial of the Latin American and Caribbean Engraving in 1998. The Institute of Puerto Rican Culture gave him the Hostos Medal for his contributions to philanthropy and culture. He was also a member of the Puerto Rico Museum of Art’s board from 2001 to 2007.
Lugo earned a bachelor’s degree in business administration with a major in accounting from the University of Puerto Rico’s Río Piedras campus, and an MBA from Inter American University of Puerto Rico.