Courtesy / MMG Insurance
Larry Shaw, president and CEO of MMG Insurance, retired after almost three decades at the helm.
February 16, 2023
At Presque Isle-based insurance carrier MMG, planned CEO takes the reins
MMG Insurance
Matthew McHatten most recently served as executive vice president, COO, secretary and clerk at MMG Insurance before being named the new president and CEO.
MMG Insurance in Presque Isle has appointed the president and CEO to succeed Larry Shaw, who retired at the end of 2022 after serving 28 years in the lead roles.
Matthew McHatten, a 2009 Mainebiz Next List honoree, was named to succeed Shaw in late 2019 as part of a broader leadership succession plan. Shaw will serve as a director on MMG’s board of directors.
“I feel fortunate to be granted the opportunity to become the eighth leader of MMG Insurance,” said McHatten. “The values that were established when we were founded in Houlton, Maine in 1897 ring true today and have fueled our tremendous growth. Our rich history, which provides us with a strong foundation, combined with an incredible team of employees, agents and business partners have us well-positioned for the future."
MMG, which was founded in 1897, has operations in Maine, New Hampshire, Vermont, Pennsylvania and Virginia. It works with more than 220 independent agencies. It writes $246 million in premiums a year.
Incoming CEO
McHatten joined the firm in 2001, most recently serving as executive vice president, COO, secretary and clerk. He previously held the roles of senior vice president of external operations, vice president of marketing, and marketing director. During McHatten’s 22-year tenure, he worked closely with Shaw on fostering agency relationships and positioning the company for growth.
McHatten was named the Rotary International Paul Harris Fellow recipient of the National Association of Mutual Insurance Companies Merit Award. In 2019, he was recognized with the President Abram W. Harris award by the University of Maine Foundation.
McHatten is a board member and past chair of the Aroostook Partnership and serves on the Strategic Communications Council of the National Association of Mutual Insurance Companies. He is a past chair and member of the University of Maine Business School Advisory Board.
“MMG is fortunate to have back-to-back talented Aroostook County natives lead the company of 274 plus employees, of which 184 reside in Aroostook,” said Sam Collins, chair of the MMG board of directors. “Matt’s passion for excellence, dynamic leadership and commitment to the policyholders, the employees, and the agents is why the board is excited to have him holding the reins during a period of tremendous change and growth."
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