Global Indemnity Group has named Praveen K. Reddy as the new president and CEO of its subsidiary Penn-America Underwriters.
In the new role, Reddy will report to Joseph W. Brown, CEO of Global Indemnity.
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Penn-America Underwriters serves as the company’s distribution and specialised services unit, involved in underwriting, insurance products distribution, technology and claims services.
With more than 20 years of experience, Reddy latterly worked as global president and COO at Innovisk Capital Partners.
Earlier, he served as the COO of Velocity Risk.
The latest move follows the company’s reorganisation, called Project Manifest, aimed at facilitating growth.
Reddy said that the company plans to roll out new products and teams and is eyeing “strategic” acquisitions.
Brown stated: “I am delighted to have Praveen join GBLI [Global Indemnity Group LLC] as the leader of our new subsidiary Penn-America Underwriters. We reorganised our company last year to increase our ability to serve our existing agency partners and to bring additional products and services to our customers.
“Praveen’s extensive background will complement the existing skills of our team and provide the leadership energy to drive value growth for our shareholders.”
Reddy added: “I am excited to be joining the GBLI team and to lead the Penn-America Underwriters business. Looking forward to working with the entire leadership team in driving the next phase of growth and operational efficiency, as part of the Project Manifest strategy. I am thrilled to be part of the journey ahead.”
