Universal Insurance Holdings has announced that Matthew J. Palmieri has been appointed as President of Universal Property and Casualty Insurance Company.
Palmieri previously served as President of Blue Atlantic Reinsurance Corporation, a wholly-owned reinsurance intermediary subsidiary of Universal Insurance Holdings.
He began his career with UVE in 2006, working beside Jon W. Springer.
With over 15 years of experience, Palmieri has been instrumental in placing all of Universal’s annual reinsurance programs, including risk management, data analytics, negotiations, and contracts terms and conditions and compliance. He also previously worked at Chubb Tempest Re and Willis Re.
Palmieri’s position will come into place effective January 1 and he will be succeeding Springer in his role, who will be retiring at the end of January.
Until his retirement, Springer will continue to serve as Chief Risk Officer, and will subsequently remain on the Board of Directors.
Steve Donaghy, Chief Executive Officer commented: “We thank Jon for his tremendous contributions over the years and look forward to working with Jon and Matt on a seamless transition. In addition, I look forward to continuing to work with Jon as a key member of our board.”
Palmieri added: “I am excited to be appointed President of Universal Property and I look forward to carrying on the key risk management and reinsurance program strategies that Jon and I have worked closely building together for the last 15 years at UVE with our great team.”