US insurtech MGA Openly swoops for Everest Re veteran for reinsurance expansion
Openly, a US-based insurtech managing general agency (MGA) focussed on high-end homeowners insurance, has nabbed an industry veteran from Everest Re to help scale its business in the reinsurance market.
The company has hired former Everest Re head of portfolio management Anthony Landi as head of reinsurance and capital management.
Landi will lead Openly’s reinsurance division and scale up its internal catastrophe management programme as the Company looks towards continuing its successes modernising the insurance industry landscape.
Prior to joining Openly, he spent 10 years at Everest Reinsurance, a top 10 (non-life) global reinsurer, where he most recently established and led the office of portfolio management for the reinsurance division. Before that, he held various lead underwriting & strategy roles across US property treaty reinsurance, worldwide D&F property reinsurance, and worldwide property retrocession.
Landi will report to Adriel Nunes, CFO of Openly, who said: “The addition of Anthony as our Head of Reinsurance and Capital Management demonstrates our continued focus on delivering value to our reinsurance partners and shareholders through strong underwriting execution and optimizing of our capital base.”
Ty Harris (pictured), CEO of Openly, added: “Our unprecedented success within the independent insurance agent channel has been recognised across other facets of the insurance industry. We have cultivated meaningful relationships with reinsurers in London, Bermuda, Cayman, and the US–relationships we see evolving alongside our business. To build upon this momentum, we are excited to welcome Anthony Landi as Head of Reinsurance and Capital Management. Anthony brings over 10 years of experience to Openly and will help us deepen our reinsurance relationships.”
Landi commented: “Openly is using its deep traditional insurance and reinsurance expertise to create an operating model which will allow it to take in different forms of capital depending on where we are in the various market cycles. We are pleased to announce the completion of our first significant Catastrophe Excess of Loss placement with a diverse panel of reinsurers across the London, Bermuda, and US marketplaces. Each of these reinsurers have shown a proactive interest in our Company’s novel approach to insurance through the independent agent channel and have the ability to scale with Openly. We believe our strategic state entry plan, focused on diversification and the maintenance of appropriate volatility during a time of growth, will help us continue to secure critical reinsurance capacity.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
