MINNEAPOLIS, May 23. 2008—The MMIC Group board of directors announced that William McDonough, president and chief executive officer of Princeton Insurance Company, has been named to succeed David P. Bounk as president and CEO of The MMIC Group, effective June 16, 2008.

McDonough has been with Princeton Insurance Company as president and CEO since 2002. He has worked in the insurance industry for more than 25 years, the last 20 focusing on professional liability insurance.

“Bill is a strong supporter of the physician-owned insurance companies’ mission to ensure the growth and strength of independent physicians,” said MMIC President and CEO David Bounk. “He is looking forward to building on MMIC’s successful history.”

The succession is the result of a nation-wide search by the MMIC board of directors and an executive recruitment firm that began when Bounk announced his retirement last year. Bounk has been with MMIC and has served as president and CEO the past 18 years.