Former SiriusPoint leader resurfaces at cyber MGA Corvus nine months after exit

Cyber MGA  Corvus Insurance, which provides commercial insurance powered by AI-driven risk data, has hired the former chief operating officer and president of insurance & services of  SiriusPoint who  resigned from the global re/insurer in June last year.

Prashanth Gangu (pictured) has joined cyber underwriter Corvus as president to lead the company’s growth and global expansion. He reports to the company’s CEO Madhu Tadikonda, and joins the executive leadership team.

Gangu is a seasoned executive with more than 20 years of experience in the insurance industry across strategy, mergers and acquisitions (M&A), distribution, product, underwriting, risk, operations, and technology.

He was most recently at SiriusPoint, where he was president of the insurance & services division and chief operating officer of the company. Previously, Gangu was a partner and head of Americas P&C insurance at Oliver Wyman, a Marsh McLennan company.

In his new role as president of Corvus, Gangu aims to build on the strong underwriting foundation and drive profitable growth. He will oversee sales, underwriting, actuarial, data science, claims, and risk capital functions. He joins Corvus to lead a major push to grow the company on the back of a strong year. In 2022, Corvus grew cyber premiums by 80 percent while achieving a loss ratio in the mid-30s.

“Corvus has demonstrated that you can achieve exceptional underwriting results by excelling in both parts of insurtech — traditional insurance expertise combined with cutting edge data and analytics — while protecting policyholders in an evolving risk landscape,” said Gangu. “I’m excited to be on board to build on the existing Corvus platform while helping policyholders, brokers, and (re)insurers face and mitigate the rapidly evolving threats and cyber risks to the core digital assets and online operations of today’s businesses.”

Corvus’s CEO Madhu Tadikonda said: “After studying the market extensively, Prashanth chose to join Corvus because he was drawn to our industry-leading profitability and loss ratio. This is the time when the strong, durable, resilient tech-driven insurance underwriters will emerge, and we are thrilled to have Prashanth join the team to drive the next stage of our ambitious journey.”

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