Global Indemnity Group’s Chief Executive Officer Cynthia Valko is set to retire from the company on January 31.
She will continue to serve the in an advisory capacity.
The company’s board of directors will be undertaking a search process to identify the successor for Valko.
“It has been my great privilege to serve as chief executive of Global Indemnity since 2011,” said Valko.
“We doubled premiums, expanded into new business lines and delivered $250 million of net income to shareholders while steadfastly protecting our 350,000 insureds.
“I am so proud of our executive management team and our 400 employees who made our success possible. I have complete confidence that Global Indemnity will continue to grow and thrive.”
Saul Fox, chairman of the board, said “For the past 9 years, Cindy Valko provided Global Indemnity with exemplary leadership. She significantly enhanced the breadth and depth of the Company’s agent and broker relationships, which powered the Company’s profitable growth.
“Cindy Valko’s commitment to executive development leaves in place a highly talented management team.”
In addition, the company’s board of directors promoted Jonathan Oltman to president of Penn-Patriot, its principal subsidiary, with sole responsibility for all of its insurance operations.
Oltman joined Global Indemnity in 2014, serving most recently as executive vice president of the Company’s core commercial specialty businesses.
As the company’s principal executive officer, Mr. Oltman will report directly to the Company’s board of directors through its chairman.
