NU Online News Service, April 20, 12:42 a.m.EDT
Avoca Insurance Holdings in Bermuda announced that Kevin D. Davidson has been hired as chief executive officer of DirectFac Inc., the company's facultative and program underwriting subsidiary.
The firm said Mr. Davidson has also been named a director of its U.S. Operations subsidiary, Avoca Underwriting Partners.
Mr. Davidson previously was president of Munich Re America's direct facultative division.
DirectFac concentrates on underwriting North American risks using a proprietary model and a Web-based underwriting workstation to analyze and quote accounts.
Mr. Davidson noted that DirectFac was "founded on the basis of blending well-regarded underwriting talent with modern technology designed to drive down the frictional costs of handling facultative business. The model allows DirectFac to provide its customers with a cost-effective product and financially strong security, which, in these turbulent financial times, is an attractive proposition."
Avoca Insurance Holdings has a holding company based in Bermuda with underwriting branches or virtual offices in New York, Atlanta, Chicago, Boston, Los Angeles, Hartford, Philadelphia and Manchester, New Hampshire.
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