Oklahoma City, Okla.-based BMSI Holdings Inc, the parent company of the financial institution insurer BancInsure Inc., named Bruce Livingston vice president and chief underwriting officer of the companies.

Rodney N. Sargent, BMSI president and chief executive officer, said Mr. Livingston, previously with Harleysville Insurance, has a depth of underwriting and insurance experience “that is essential for our operations.”

He added that Mr. Livingston's “strategic insights into product and program development, coupled with his executive leadership acumen, reflect the growing bench strength of our leadership team.”

Mr. Livingston comes to BancInsure with 24 years of executive experience in underwriting leadership, program development and operational oversight.

At Harleysville Mr. Livingston led product management and development and was an officer of the company. He also directed the corporation's underwriting approach to create an additional $300 million in premiums.

He was a former division president of Professional Underwriters Corporation, a subsidiary of Legion Management Corporation, where he served as chief executive officer handling program premium in excess of $150 million.

The company did not say who Mr. Livingston succeeded or why.

In a statement to National Underwriter, Mr. Sargent said, “This is a newly created position. This position will provide strategic oversight to all our underwriting departments (bond, professional liability, property and casualty, and Matterhorn Financial Services) and work with the CEO on reinsurance and product development.”

(This story was updated on April 1 at 9:39 a.m.)

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BancInsure Names Chief Underwriting Officer

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