New York-based Insight Catastrophe Group, a catastrophe risk management and underwriting services firm, announced a partnership with Jim Stanard and Rod Fox through their newly formed organization, New Asset Class Management.
New Asset Class has made an equity investment in Insight, the firm said. Mr. Stanard will serve as nonexecutive chairman of Insight's board of managers, and Mr. Fox will serve as nonexecutive vice chairman.
Insight said Mr. Stanard and Mr. Fox will also provide strategic oversight and help expand the company's growth in the property catastrophe risk management and underwriting businesses.
Andrew DiLoreto, chief executive officer of Insight Catastrophe Group, said the two new executives' “experience, leadership qualities and industry relationships will help Insight more rapidly reach its full potential.”
Mr. Stanard is the chairman of New Asset Class. Prior to forming New Asset Class, he served as the chairman and chief executive officer of RenaissanceRe. He also served as executive vice president of USF&G.
Mr. Fox is the CEO of New Asset Class. Before New Asset Class, Mr. Fox served as CEO of Praetorian Financial Group. Prior to Praetorian, Mr. Fox was the CEO of Benfield Inc., the U.S. division of Benfield Group Limited.
Insight, formed in 2005, offers innovative services and patent-pending software applications that provide clients with superior risk-adjusted returns and an exceptional user experiences.
“Insight's rigorous approach and suite of analytical tools is bringing a new standard to the primary cat business,” said Mr. Stanard.
Mr. Fox added that Insight, in a short period of time, “has demonstrated a superior approach to pricing and writing catastrophe-exposed property business. We are really excited about the growth potential of this organization.”
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About Insight Catastrophe Group
Insight Catastrophe Group is a specialty provider of property catastrophe risk management and underwriting services that utilizes proprietary technology and advanced analytics. With offices in New York and Tampa, Insight Catastrophe Group includes Insight Catastrophe Solutions, LLC and Coastal Risk Underwriters, LLC. Additional information may be found on its Web site at www.icg360.com.
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