Executive with Over 25 Years of Insurance Industry Experience

Jun 25, 2020, 07:55 ET

NEW YORK, June 25, 2020 /PRNewswire/ — Obsidian Insurance Holdings, Inc., a new fronting insurance holding company, announced today the further strengthening of its senior management team with the appointment of Stacy Armstrong, a senior executive with over 25 years of insurance and reinsurance industry experience, as Chief Client Officer.  Ms. Armstrong’s role will include responsibility for managing client and reinsurer relationships.

William Jewett, Chief Executive Officer of Obsidian who has over 35 years of industry experience focused on building and managing insurance and reinsurance companies, said, “As we continue to build our hybrid program fronting carrier we are actively seeking talented senior executives who are familiar with the needs of our clients and are keenly interested in helping us continue our rapid growth trajectory.  Our platform is efficient and valuable to MGAs, risk aggregators, and the reinsurance community.  Creating it from the ground up is both exciting and challenging.  We are very pleased that Stacy has joined our team as we continue to grow and we look to her leadership in helping build additional bridges to MGAs, aggregators, and the reinsurance community.  The breadth and versatility of her experience will be an excellent addition as we continue to focus on providing exceptional underwriting capabilities and service to our clients.”

Ms. Armstrong most recently served as Executive Vice President, Underwriting, M&A, TPA Management at Cranmore, an advisory and consulting service unit of Enstar Group, a leading global insurance group with over $19 billion of assets.  Prior to Cranmore, she served in various underwriting and marketing leadership positions for 20 years with Maiden Re and its predecessor organization, GMAC Re, most recently as Executive Vice President of Broker Treaty & New Products, where she led the development of innovative insurance products and strategic partnerships. She began her career at St. Paul Re, followed by Zurich Re where she held underwriting positions.  Ms. Armstrong is a graduate of the College of New Jersey with a B.S. in finance and accounting.  She is a Chartered Property & Casualty Underwriter (CPCU) and has earned the Associate in Reinsurance (ARe) designation.

Obsidian was formed earlier this year in partnership with leading insurance industry executives and Genstar Capital.  The company continues to assemble a team of seasoned senior executives with broad, complementary, and relevant skill sets, each with a track record of success and experience starting, building and growing profitable insurance and reinsurance companies.  Additional members of the team include 20-year industry veteran Craig Rappaport, who serves as Chief Operating Officer & Chief Financial Officer; Emily Canelo, Obsidian’s Chief Legal Counsel, who previously served as Chief Counsel & Executive Vice President for Reinsurance and Insurance of Endurance Services Ltd.; and Dan Larkin, Chief Underwriting Officer who has over 25 years of experience in the insurance industry and most recently served with Allianz as Northeast Zone Midcorp Program Director.