The head of an investment firm that works with insurance companies has been picked as Connecticut’s next insurance commissioner.
Thomas B. Leonardi, chairman and CEO of Connecticut-based venture capital firm Northington Partners Inc, was named as commissioner by new Gov. Dannel Malloy.
“It is important to have someone in this position who can strike the appropriate balance between consumer protection and business development,” Malloy said, adding that Leonardi’s “significant business development experience” will be instrumental in finding “new and innovative ways in which we can grow the insurance sector in our state.”
Leonardi said “there are more than 65,000 people who work in the insurance industry in Connecticut, and that number is down by almost 25 percent over the past 20 years. The insurance industry has been such a key part of the fabric of our economy and our state for over 150 years. We need to reverse this decline and bring new insurance jobs to Connecticut. Connecticut’s families need affordable and reliable insurance coverage and they need good jobs. My goal as Insurance Commissioner will be to do everything within my power to make sure they get both.”
Prior to his tenure at Northington, Leonardi was responsible for mergers and acquisitions and venture capital activities at Conning & Co. where he served as senior vice president.
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