Spinnaker Insurance Company, a fronting carrier wholly owned by insurtech group Hippo Enterprises, has appointed Torben Ostergaard as its new president and chief executive officer.
Ostergaard joins Spinnaker after more than a decade in c-suite roles at insurance and financial services firm USAA.
He succeeds Dave Ingrey, who will transition to chief operating officer.
Ostergaard brings 25 years’ experience as a risk officer working across the financial services industry.
At USAA, he served as executive vice president, chief risk officer and a member of the executive council that manages the day-to-day operations of the company, including property & casualty insurance, banking and life insurance.
Prior to USAA, he was chief credit officer at HSBC Financial in Canada. He is currently serving on Opendoor’s risk advisory board.
“I’ve been blown away by the combination of innovation and technology that Hippo has deployed alongside Spinnaker and am thrilled to be joining Spinnaker as its CEO,” said Ostergaard.
“I look forward to building on the great work of the team that’s established Spinnaker as a premier fronting company to bring its world-class fronting services and technology to the next level for the benefit of our existing partners and as we expand into new categories of business.”
Spinnaker recently announced a partnership with Battleface, and will continue expanding its support for insurance managing general agents (MGAs) across multiple categories.
Richard McCathron, President of Hippo Enterprises and Chairman of Spinnaker Insurance Company added: “Torben’s risk management and financial expertise, public company experience at USAA and Fortune 100 executive leadership makes him exceptionally qualified to lead Spinnaker to its next chapter of growth.
“We are incredibly grateful to Dave for bringing the Spinnaker business to this stage and having him remain in a critical leadership role will provide continuity and accelerate business growth, innovation, and expansion into new channels.”