Concert has appointed John Hendrickson as CEO.
The firm said that Hendrickson will take up his role at the beginning of January, succeeding Jonathan Reiss. Reiss, the firm said in a statement, will remain on Concert’s board and provide his expertise during what the firm hopes will be a ‘seamless leadership transition’.
Brady Young, chairman of Concert, said: “We’re delighted to welcome John to Concert. Throughout his career, John has distinguished himself in delivering quality solutions and support to his client relations. His deep knowledge and experience in financial markets and the insurance industry represents precisely the right skill set as we enter our second full year of operation.”
He added: “We owe a debt of gratitude to Jonathan for leading Concert through our build-out phase. Among other milestones, he oversaw the launch of our excess and surplus lines platform, Concert Specialty Insurance Company, to complement our admitted carrier, Concert Insurance Company, and the recruitment of a seasoned leadership team.”
Hendrickson’s nearly forty years’ experience includes executive roles at StarStone Group, Validus Group, and Swiss Re. In addition, Hendrickson has served as an advisor to numerous clients in the re/insurance sector, including as a founding member of Smith Barney’s insurance investment banking practice from 1985 to 1995.
This is not the only HR move in the firm this year. Back in March, it said it had appointed Sam DeLuca to the position of chief actuary.
That move came nearly two months after Concert appointed a new head of claims in Suzanne Fetter. That, itself, came a few months after the firm raised $100m in growth capital, along with a rating of A- from AM Best.
The Chicago-based firm specialises in the fronting market and became known by its present name in 2021. Its current incarnation was founded by Brady Young, president and CEO of Strategic Risk Solutions; Wes Duesenberg, CEO of Southern Insurance; and Christopher Collins, managing director of Corinthian Re.
