4 People on the Move

Lockton appoints a chief executive officer from outside of the Lockton family, Munich Re. gets a new chief financial officer, and more in this edition of People on the Move.
By: | November 19, 2019

HUB International Names Chief Sales Officer for its Cannabis Insurance and Risk Services

Jay Virdi,

Jay Virdi, chief sales officer, Cannabis Insurance and Risk Services, U.S., Canada

HUB International recently named Jay Virdi chief sales officer for its Cannabis insurance and risk services in the U.S. and Canada. He has become a reputable leader in the advocacy for risk management and innovative insurance solutions in the emerging risk arena of cannabis for his clients, brokers and insurance providers. Virdi most recently developed the cannabis practice group for MGA.

Virdi’s responsibilities will focus on developing deep expertise and resources across the U.S. and Canada to medical and recreational cannabis producers, distributors, handlers and retailers.

Virdi has more than 15 years of experience in the insurance industry providing support for sales activities and operations.  He has experience advising on commercial lines insurance solutions and underwriting complex risks and commercial programs.

AmTrust Appoints Daniel Hargraves as EVP, Head of Litigation

AmTrust, a multinational insurance holding company, announced that Daniel Hargraves has been appointed executive vice president, Head of Litigation.

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He will report jointly to chairman and chief executive officer, Barry Zyskind and EVP, chief financial officer, Adam Karkowsky.

Daniel Hargraves has deep leadership experience managing complex, global business issues, and will support the company’s future success,” said Zyskind. “Daniel’s knowledge of the insurance industry and demonstrated litigation expertise makes him uniquely qualified to assume the role of executive vice president, Head of Litigation. Daniel will be an important member of the AmTrust senior team, both domestically and internationally.”

Most recently Hargraves served as managing partner of the New York office of Freeborn & Peters, LLP. Where he concentrated on litigating disputes on behalf of insurers, reinsurers, brokers, underwriting agents and pools.

Hargraves is listed in the 2019 Who’s Who Legal: Thought Leaders list of the most highly regarded individuals in Insurance law.

Lockton Nabs a New CEO From Outside the Family

Peter Clune, incoming chief executive officer, Lockton

Peter Clune will be the next chief executive officer of Lockton, David Lockton recently announced.

Clune has been with Lockton for 13 years, most recently serving as U.S. President and chief operating officer.

David Lockton will step down as chairman, a role he has held for the last 18 years. He will be replaced by Ron Lockton.

Both announcements were made during the company’s annual Global Growth Forum on November 6.

Clune has spent the last 13 years with Lockton, most recently serving as U.S. President and chief operating officer.

“Peter is one of very few non-Lockton family members to be CEO in the firm’s 53-year history,” said David Lockton. “During his tenure as U.S. President, he has made several key decisions that have been critical to ensuring Lockton’s double-digit growth. He’s a collaborator, a consensus builder and the right leader for Lockton.”

“Under David’s leadership, Lockton has grown to a nearly $2 billion-dollar global company with more than 7,500 Associates in offices around the world,” said Ron Lockton, incoming chairman. “I am grateful for his leadership and appreciate all of the guidance he has given Peter and me as we prepare for our new roles. I am excited about our amazing momentum and bright future.”

Oliver Horbelt Appointed Chief Financial Officer for Munich Reinsurance America, Inc.

Munich Reinsurance America, provider of reinsurance coverages, specialty reinsurance, and risk management solutions to commercial insurance carriers, has named Oliver Horbelt chief financial officer. He will report to to Tony Kuczinski, President and Chief Executive Officer, Munich Reinsurance.

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Horbelt will oversee financial operations for the U.S. Operations which includes Munich Re, US, Munich Re Specialty Insurance, American Modern Insurance Group, and Hartford Steam Boiler Inspection and Insurance Company.

“I am very excited to bring someone with Oliver’s background, proven leadership, and deep business experience into this role,” said Kuczinski. “He has been a Munich Re colleague since 2009 and has a deep understanding of the financial services industry, including investment banking, insurance, reinsurance, and structured finance.

“Oliver’s leadership will allow our Financial Management Reporting group to not only carry out its important accounting and reporting roles, but also embed its strategic and critical thinking into our decision-making in the years to come.”

Horbelt has experience leading experts and is dedicated in supporting clients in addressing complex risk and capital management challenges. &

Emily Spennato is a former staff writer with Risk & Insurance.

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The R&I Editorial Team can be reached at [email protected]