James River Group Holdings Ltd. announced that Frank D’Orazio has been named chief executive officer of the company, effective Nov. 2, 2020. J. Adam Abram, the company’s founder and current CEO will retire on Nov. 1, 2020.
Abram will remain with the company as non-executive chair of the board of directors. D’Orazio has also been named to the board of directors.
D’Orazio most recently served as chief operating officer and chief of staff at Allied World Assurance Co. Ltd., where he worked for 17 years. He also had prior responsibilities at the same firm as president, Underwriting and Global Risk, and president, International Insurance. D’Orazio began his career as a casualty underwriter at Chubb and also served in a number of underwriting manager roles at Munich Re America.
“Frank is a highly experienced and successful senior executive and profitable business builder with many years of experience in the areas where James River has concentrated,” commented Abram.
“Throughout his 30-year career in the insurance industry, Frank has proven to be an excellent leader who has developed a deep understanding of underwriting, finance, enterprise risk management and strategic thinking by leading significant initiatives in each of these areas,” he added. “Our board is pleased and confident that James River will have the benefit of his experience and vision for the future. The company is in a strong position now, with great momentum, and this is a good moment for me to transition back to retirement.”
The company also announced that Robert Myron, president and chief operating officer of the company, has decided to step down from the board of directors, effective Nov. 2, 2020. Myron will remain with the company in his current role as president and chief operating officer.
“Bob is an integral part of our senior management team and has been a very effective member of our Board, having served on it since 2011. His decision to leave the board was based on his judgement that our shareholders would be better served if we reduced the number of inside directors on the board,” said Abram.
About James River Group Holdings Ltd.
James River Group Holdings Ltd. is a Bermuda-based insurance holding company that owns and operates a group of specialty insurance and reinsurance companies. The company operates in three specialty property-casualty insurance and reinsurance segments: excess and surplus lines, specialty admitted insurance and casualty reinsurance.
Source: James River Group Holdings
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