Truist Insurance Holdings LLC (TIH), the US broker and Truist Financial Corporation subsidiary, has announced its plans to restructure its wholesale operation into two significant and industry-leading divisions: Wholesale and Underwriting.
Neil Kessler has been appointed to Chief Executive Officer of the Wholesale Division, which will include the company’s CRC Commercial Solutions businesses (CRC Brokerage, CRC Binding, and Tapco) and its Life, Retirement, and Benefits businesses (BenefitMall, Crump and Hanleigh).
William Goldstein was named Chief Executive Officer of the Underwriting Division, which will include TIH’s Starwind, AmRisc Group, JH Blades and Ethos.
According to the announcement, there will be no changes to any underlying operating brand names or leadership teams for these businesses.
Truist Insurance Holdings Chairman and CEO John Howard stated: “This new structure will allow us to better serve our clients and carrier partners as we continue to grow and thrive as a company.
“We’re bringing together businesses with similar operating models, allowing us to achieve efficiency and economies of scale to ensure their continued industry-leading positions. This in turn strengthens Truist Insurance’s overall operating strategy, built around a diversified portfolio of top-performing businesses, that many of our peers are seeking to emulate.”
Kessler and Goldstein will continue to report to Dave Obenauer in his role as Vice Chairman and President of Truist Insurance Holdings. Crump Life Insurance Services, part of the TIH Wholesale Division, will also continue to report directly to Obenauer.
“This decision marks an important moment in our history as we transition leadership to Neil and Bill, who have consistently demonstrated exceptional leadership qualities, strategic acumen, and unwavering commitment to our success,” said Obenauer.
He added: “Their promotions are also a testament to the strong leadership pipeline we have within our organisation.”
