Insurance Investor - news round-up 16/3/23

All the people move news in the investment space for insurers, featuring Lloyd's of London, Envest Group, Curative, CAMICO, and Essent.

Insurance Investor Editorposted on Thursday, March 16, 2023

@ShutterStock. Weekly comings and goings and portfolio management news for the investment community in insurance.

Comings and Goings

Lloyd’s of London

Lloyd’s has made a number of changes to its Executive Committee that are focused around renewed efforts on digitisation and culture.

Bob James, previously Lloyd’s Market Transformation Director, will assume the role of Chief Operations Officer (COO) for Lloyd’s with immediate effect, subject to regulatory approval, and will focus on aligning the Blueprint Two programme - the strategy to deliver profound change in the Lloyd’s market through digitalisation - with the wider Corporation Operations function.

James has over 30 years of experience in roles covering underwriting, technology, sales, marketing, banking advisory and operations. He began his career in the Operations function at Allstate Insurance in the United States, and was the COO for CNA Commercial Insurance and QBE North America. He was also the Executive Vice President for MGA Operations and Chief Human Resources Officer at private equity sponsored intermediary, The Amynta Group.

Burkhard Keese will continue as Lloyd’s Chief Financial Officer (CFO), with a focus on growing the Lloyd’s Investment Platform and risk transformation vehicle London Bridge to attract new capital providers.

Deputy CFO Alex Cliff will join Lloyd’s Executive Committee with immediate effect. Cliff will continue to report into Burkhard.

Cliff joined Lloyd’s in November 2022 and has over 20 years of experience in the insurance industry, having held senior finance roles in insurance and broking firms including Direct Line Group, StarStone, and AJ Gallagher. Prior to that, he spent eight years at PwC in both London and the US.

Envest Group

Envest Group has appointed David Ball as Chief Investment Officer (CIO) as well as announcing it will be restructuring its existing leadership team to positions for further expansion after being acquired by the Ardonagh Group.

Ball was previously at Macquarie Group for more than a decade, most recently as Business and Corporate Banking National Head of Insurance. He will join insurance investment and distribution business Envest on March 20.

Brisbane-based Envest’s activities are focused on broking, underwriting agencies, and insurance-related investments. In broking, it has driven the expansion of Aviso Group.

UK-based broker Ardonagh Group completed its acquisition of Envest last month as it continues to build its presence in the Australian market.

Envest CEO Greg Mullins said Envest is positioning for double-digit growth in the next two years.

Mullins added that Ball will work with Chief Distribution Officer Craig Robson and COO Richard Heilig, who will continue to lead the broking and agency businesses respectively.


Health services company Curative, which also pivoted to insurance, has promoted Chief Financial Officer (CFO) Tami Wilson-Ciranna, to President of the company, effective immediately.

Texas-based Curative created and launched an employer-based health insurance plan in 2020.

Wilson-Ciranna has had several leadership roles in a variety of industries with a focus on high-growth companies. She joined Curative in April 2020 shortly after its move into COVID-19 testing, and her financial leadership experience was critical to Curative’s accelerated yet controlled growth, said the company.

Wilson-Ciranna’s responsibilities will include oversight of Finance, Legal, Pharmacy Operations and Formulary, Risk and Investment Management, Facilities, Accounting/Tax, Human Resources, and overall company strategy. She will also sit on the Board of Curative Insurance Company.

Wilson-Ciranna was CFO for Curative Labs Inc. during the pandemic response. She was previously the Chief Financial and Administrative Officer at Prolacta Bioscience. She has over 20 years of management experience, including nine years serving as the CFO of CommonWealth Partners.


Mortgage insurance and reinsurance company, Essent Group has promoted David B. Weinstock to the role of Senior Vice President, Chief Financial Officer (CFO) of Essent Group Ltd.

Weinstock has been Interim CFO since June 2022, and as Vice President and Chief Accounting Officer since 2009.

Essent is a Bermuda-based holding company, headquartered in Pennsylvania, that offers private mortgage insurance for single-family mortgage loans in the US.

Weinstock has more than 25 years of experience in the areas of finance, accounting, and controls. Prior to joining Essent, he held a series of senior management positions at Advanta Corp. and was also a senior manager at Arthur Andersen LLP.

“Dave brings a deep understanding of our business and the mortgage insurance industry,” said Mark Casale, Chairman and CEO. “I look forward to his leadership as Chief Financial Officer and continued support of our business and long-term growth of the Essent franchise.”


Mike Ray has been appointed Chief Financial Officer (CFO) in February at CAMICO. In this role, he will oversee all finance functions of CAMICO and its subsidiaries.

CAMICO is the US’s largest CPA-directed programme of insurance and risk management for the accounting profession.

It was founded in 1986 and is based in Sacramento. It operates in 49 states and the District of Columbia.

In the role, Ray will oversee all finance functions of CAMICO and its subsidiaries. Ray is a CPA, previously with PricewaterhouseCoopers (PwC), and for the past 22 years worked as the CFO for California Casualty Insurance Company, also based in San Mateo. He succeeds CFO Jay Stewart, who is retiring after more than 12 years with CAMICO.

“We took great diligence to find an executive with the right expertise and proven leadership, as well as someone who aligns with our mission and culture,” said CAMICO President and CEO Ric Rosario.

Ray has more than 10 years of leadership experience with the California Society of CPAs San Francisco Chapter and completed two terms (2018-2020 and 2021-2022) as Vice Chairman at the state level.


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