Reinsurance News

Core Specialty makes changes to board of directors

1st December 2022 - Author: Pete Carvill

Core Specialty has appointed David Ni to its board of directors with immediate effect.

core-specialty-logoNi will be replacing Robert Campbell, who has served on the board since the firm recapitalised in November 2020 as one of two directors designated by Enstar. Ni is the chief strategy officer at Enstar, a position he has held since May.

Prior to joining Enstar, Mr. Ni spent his career as an investment banker working in the U.S. and in Asia and was a managing director at Deutsche Bank with responsibility for leading M&A in financial services. Prior to that, he was with Goldman Sachs for more than 10 years covering the financial services sector.

Jeff Consolino, president, CEO, and founder of Core Specialty, said: “Enstar made an essential contribution to Core Specialty at formation in 2020, providing us with the admitted and non-admitted insurance companies to underwrite specialty commercial insurance in all fifty US states and entering into a combination loss portfolio and adverse development cover reinsurance agreement allowing Core Specialty to focus on growing our business rather than managing legacy exposures.”

He added: “We appreciate Enstar’s stated commitment to helping Core Specialty reach its full potential as a specialty commercial property & casualty insurer including, as opportunities warrant, in our potential future acquisition activities.”

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The recapitalisation in 2020 was led by SkyKnight Capital, L.P., Dragoneer Investment Group, and Aquiline Capital Partners LLC. As part of the arrangement, Enstar has received a combination of cash consideration and shares in the rebranded Core Specialty.

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