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Jack Sennott steps down as CEO, President, and Chair of CapSpecialty, effective August 31. Adam Sills, previously Head of Specialty Underwriting, is appointed as the new President and CEO. Sennott has made significant contributions during his 20-year tenure at Alleghany Corporation and CapSpecialty, enhancing the company's standing in specialty casualty and surety insurance sectors. Sills brings nearly nine years of experience within the company, highlighting an effective leadership transition.
Positive
Adam Sills' appointment may bring fresh perspectives and continuity given his long tenure at CapSpecialty.
Sills' industry relationships and underwriting experience could strengthen the company's operational efficiency.
Negative
Jack Sennott's departure could raise concerns about continuity in leadership and strategic direction.
Jack Sennott to Step Down; Adam Sills Named President and CEO
NEW YORK--(BUSINESS WIRE)--
CapSpecialty, a wholly-owned subsidiary of Alleghany Corporation (NYSE:Y), today announced that Jack Sennott is stepping down from his roles as CEO, President and Chair, effective August 31. Alleghany has named Adam Sills, currently CapSpecialty’s Head of Specialty Underwriting, as President and CEO.
“Over the course of the past 20 years, Jack held several important roles for Alleghany including CFO of Darwin Professional Underwriters, CFO of Alleghany and most recently CEO of CapSpecialty. In each role, Jack made a meaningful difference and added significant value. I want to thank Jack for his leadership and many contributions, and in particular his leading CapSpecialty’s transformation to a preferred specialty casualty and surety insurance provider for small and mid-sized businesses across the U.S.,” said Joe Brandon, President and CEO of Alleghany Corporation. “We wish Jack all the best in his future endeavors.”
“After being a part of Alleghany for most of the past 20 years, it is time for me to write a new chapter in my career,” said Mr. Sennott. “It has been my privilege to serve as CEO of CapSpecialty and in my prior roles for Alleghany. I am very proud of what we have accomplished at CapSpecialty and I know the company will not skip a beat with Adam at the helm. I wish the team every success.”
Mr. Brandon commented further, “We are pleased to appoint Adam Sills as CEO and President. Adam will do a superb job leading CapSpecialty after having been a key member of the senior management team for almost nine years. He is an experienced and disciplined underwriter whose deep knowledge of the company and strong industry relationships will serve CapSpecialty and its clients well.”
Adam Sills has served as CapSpecialty’s Head of Specialty Underwriting since 2019, where he has been responsible for the production and profitability of the company’s underwriting operations for Professional Liability, Healthcare and Specialty Casualty, as well as Marketing and Distribution and Operations. He joined the Company in 2013, after spending five years at Allied World and four years at Darwin Professional Underwriters. He started his career as a D&O underwriter for the Travelers.
About CapSpecialty, Inc.
CapSpecialty, Inc., a wholly owned subsidiary of Alleghany Corporation, provides specialty insurance solutions for small and mid-sized business across the U.S.CapSpecialty offers a full inventory of specialty lines, including casualty, fidelity, surety, healthcare, and professional lines on both an admitted and non-admitted basis. CapSpecialty’s affiliates are rated A (Excellent) by the A.M. Best Company. Visit www.capspecialty.com for additional information.
