Global Indemnity Group, LLC Appoints President and Chief Executive Officer of Penn-America Underwriters, LLC
Global Indemnity Group (NYSE:GBLI) has appointed Praveen K. Reddy as President/CEO of Penn-America Underwriters, , a newly formed subsidiary focusing on insurance products distribution, technology services, and claims services. This appointment follows an internal reorganization called Project Manifest.
Reddy, with over 25 years of insurance industry experience, will report to GBLI CEO Joseph W. Brown. He joins from Innovisk Capital Partners, where he served as Global President and COO, and previously held the COO position at Velocity Risk. His appointment aims to drive growth in existing lines, launch new products/teams, and pursue strategic acquisitions.
Penn-America Underwriters was established to enhance service to existing agency partners and expand product offerings to customers. Reddy's role will focus on implementing the Project Manifest strategy to drive growth and operational efficiency.
Global Indemnity Group (NYSE:GBLI) ha nominato Praveen K. Reddy come Presidente/CEO di Penn-America Underwriters, una nuova sussidiaria focalizzata sulla distribuzione di prodotti assicurativi, servizi tecnologici e servizi di gestione dei sinistri. Questa nomina segue una riorganizzazione interna chiamata Project Manifest.
Reddy, con oltre 25 anni di esperienza nel settore assicurativo, riporterà al CEO di GBLI, Joseph W. Brown. Proviene da Innovisk Capital Partners, dove ha ricoperto il ruolo di Presidente e COO globale, e in precedenza ha ricoperto la posizione di COO presso Velocity Risk. La sua nomina mira a stimolare la crescita delle linee esistenti, lanciare nuovi prodotti/squadre e perseguire acquisizioni strategiche.
Penn-America Underwriters è stata creata per migliorare il servizio ai partner agenziali esistenti e ampliare l'offerta di prodotti ai clienti. Il ruolo di Reddy si concentrerà sull'implementazione della strategia Project Manifest per promuovere la crescita e l'efficienza operativa.
Global Indemnity Group (NYSE:GBLI) ha nombrado a Praveen K. Reddy como Presidente/CEO de Penn-America Underwriters, una nueva subsidiaria centrada en la distribución de productos de seguros, servicios tecnológicos y servicios de reclamaciones. Este nombramiento sigue a una reorganización interna llamada Project Manifest.
Reddy, con más de 25 años de experiencia en la industria de seguros, reportará al CEO de GBLI, Joseph W. Brown. Se une desde Innovisk Capital Partners, donde se desempeñó como Presidente y COO global, y anteriormente ocupó la posición de COO en Velocity Risk. Su nombramiento tiene como objetivo impulsar el crecimiento en las líneas existentes, lanzar nuevos productos/equipos y buscar adquisiciones estratégicas.
Penn-America Underwriters se estableció para mejorar el servicio a los socios de agencias existentes y expandir la oferta de productos a los clientes. El papel de Reddy se centrará en implementar la estrategia Project Manifest para impulsar el crecimiento y la eficiencia operativa.
글로벌 인덴미티 그룹 (NYSE:GBLI)는 펜-아메리카 언더라이터스의 사장/CEO로 프라빈 K. 레디를 임명했습니다. 이 새로운 자회사는 보험 제품 유통, 기술 서비스 및 클레임 서비스를 중심으로 하고 있습니다. 이 임명은 프로젝트 매니페스트라는 내부 조직 개편에 따른 것입니다.
레디는 25년 이상의 보험 업계 경험을 가지고 있으며, GBLI의 CEO인 조셉 W. 브라운에게 보고할 것입니다. 그는 혁신적 자본 파트너스에서 글로벌 사장 및 COO로 재직했으며, 이전에는 벨로시티 리스크에서 COO 직책을 맡았습니다. 그의 임명의 목적은 기존 라인의 성장을 촉진하고, 새로운 제품/팀을 출시하며, 전략적 인수를 추구하는 것입니다.
펜-아메리카 언더라이터스는 기존 에이전시 파트너에게 서비스를 개선하고 고객에게 제품 제공을 확장하기 위해 설립되었습니다. 레디의 역할은 성장과 운영 효율성을 촉진하기 위해 프로젝트 매니페스트 전략을 구현하는 데 집중할 것입니다.
Global Indemnity Group (NYSE:GBLI) a nommé Praveen K. Reddy au poste de Président/CEO de Penn-America Underwriters, une nouvelle filiale axée sur la distribution de produits d'assurance, les services technologiques et les services de gestion des sinistres. Cette nomination fait suite à une réorganisation interne appelée Project Manifest.
Reddy, fort de plus de 25 ans d'expérience dans le secteur de l'assurance, rendra compte au CEO de GBLI, Joseph W. Brown. Il rejoint Innovisk Capital Partners, où il a occupé le poste de Président et COO mondial, et a précédemment été COO chez Velocity Risk. Son objectif est de stimuler la croissance des lignes existantes, de lancer de nouveaux produits/équipes et de poursuivre des acquisitions stratégiques.
Penn-America Underwriters a été créée pour améliorer le service aux partenaires d'agence existants et élargir l'offre de produits aux clients. Le rôle de Reddy se concentrera sur la mise en œuvre de la stratégie Project Manifest pour favoriser la croissance et l'efficacité opérationnelle.
Global Indemnity Group (NYSE:GBLI) hat Praveen K. Reddy zum Präsidenten/CEO von Penn-America Underwriters ernannt, einer neu gegründeten Tochtergesellschaft, die sich auf die Verteilung von Versicherungsprodukten, Technologiedienstleistungen und Schadensservices konzentriert. Diese Ernennung folgt einer internen Umstrukturierung namens Project Manifest.
Reddy bringt über 25 Jahre Erfahrung in der Versicherungsbranche mit und wird an den CEO von GBLI, Joseph W. Brown, berichten. Er kommt von Innovisk Capital Partners, wo er als globaler Präsident und COO tätig war, und hatte zuvor die Position des COO bei Velocity Risk inne. Seine Ernennung zielt darauf ab, das Wachstum der bestehenden Linien voranzutreiben, neue Produkte/Teams zu starten und strategische Akquisitionen zu verfolgen.
Penn-America Underwriters wurde gegründet, um den Service für bestehende Agenturpartner zu verbessern und das Produktangebot für Kunden zu erweitern. Reddys Rolle wird sich darauf konzentrieren, die Strategie des Project Manifest umzusetzen, um Wachstum und betriebliche Effizienz zu fördern.
- Strategic appointment of experienced executive with 25+ years industry expertise
- Expansion into new insurance products and services through new subsidiary
- Clear growth strategy including new product launches and strategic acquisitions
- Organizational restructuring to improve operational efficiency
- None.
Mr. Brown states, “I am delighted to have Praveen join GBLI as the leader of our new subsidiary Penn-America Underwriters, LLC. We reorganized our company last year to increase our ability to serve our existing agency partners and to bring additional products and services to our customers. Praveen’s extensive background will complement the existing skills of our team and provide the leadership energy to drive value growth for our shareholders.”
With over 25 years in the insurance industry, Mr. Reddy brings a wealth of knowledge and experience of delivering products and services to fulfill the customer’s needs. Mr. Reddy is a recognized thought leader, known for establishing strategies to drive successful and profitable outcomes.
Mr. Reddy commented, “I am excited to be joining the GBLI team and to lead the Penn-America Underwriters business. Looking forward to working with the entire leadership team in driving the next phase of growth and operational efficiency, as part of the Project Manifest strategy. I am thrilled to be part of the journey ahead.” He further added, “In addition to driving growth in existing lines, we will be looking to launch new products/teams and make strategic acquisitions.”
Most recently Mr. Reddy joins the company from Innovisk Capital Partners, a global multi-line MGA platform, where he served as the Global President and COO. Prior to Innovisk, Mr. Reddy was the COO of Velocity Risk, a Specialty and E&S lines MGA. Mr. Reddy holds a Bachelor of Technology, Chemical Engineering from Osmania University in
About Global Indemnity Group, LLC and its subsidiaries
Global Indemnity Group, LLC (NYSE:GBLI) provides diversified offerings for both specialty property and casualty insurance in the Excess & Surplus Lines market through its subsidiaries. Belmont Holdings GX, LLC, is an insurance holding company that manages its core and non-core insurance portfolios through its wholly owned specialty insurance companies. Its distribution and specialized services group, Penn-America Underwriters, LLC, focuses on the underwriting, growth and distribution of insurance products, technology services, and claim services supporting its policyholders and agents.
For more information, visit the Company’s website at www.gbli.com.
Forward-Looking Information
The forward-looking statements contained in this press release1 do not address a number of risks and uncertainties. Investors are cautioned that Global Indemnity’s actual results may be materially different from the estimates expressed in, or implied, or projected by, the forward looking statements. These statements are based on estimates and information available to us at the time of this press release. All forward-looking statements in this press release are based on information available to Global Indemnity as of the date hereof. Please see Global Indemnity’s filings with the Securities and Exchange Commission for a discussion of risks and uncertainties which could impact the Company and for a more detailed explication regarding forward-looking statements. Global Indemnity does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
[1] Disseminated pursuant to the "safe harbor" provisions of Section 21E of the Security Exchange Act of 1934.
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Brian Riley
Chief Financial Officer
(610) 660-6817
briley@gbli.com
Source: Global Indemnity Group, LLC
FAQ
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