New Paradigm Underwriters, a specialist managing general underwriter and insurtech platform focused on parametric risk transfer, has appointed Matthew Grunewald as Executive Vice President (EVP) for Underwriting and Risk Capital.
In this newly created role, he will be responsible for developing and underwriting parametric reinsurance and alternative risk transfer solutions, sourcing new capacity and developing business opportunities.
As a member of New Paradigm’s executive team, Grunewald will also assist with the development and execution of the company’s overall strategy.
Grunewald joins New Paradigm from Greenlight Re, where he most recently served as Deputy Chief Under Officer.
He has 10 years’ experience in the re/insurance industry, and previously worked in Guy Carpenter’s Tampa, Florida office.
“We are very pleased that Matt Grunewald has joined our growing team,” said New Paradigm co-founder and CEO Evan Glassman. “New Paradigm experienced very significant growth in 2019 and we are forecasting and preparing for another year of significant growth in 2020 and beyond in many different countries and regions as well across multiple perils.
“Matt’s addition will give us expanded resources, and he will be focusing much of his efforts on developing additional reinsurance capacity to support our growth,” Glassman added.
Grunewald also commented: “I am excited to be joining the New Paradigm team where they are innovating to close the protection gap and bringing new risks into the (re)insurance market.”
“I’ve known and followed the New Paradigm team since its inception and look forward to joining this fast-growing company. The catastrophic events of recent years have both highlighted the significance of the protection gap and how complex these events can be for underwriters,” he continued.
“New Paradigm designs products that cover what others exclude for our protection buyers while avoiding the issues of reserve uncertainty, ballooning adjustment expenses and conflicts of interest for our risk bearing markets.”