NEW YORK, July 24, 2023 - Obsidian Insurance Group ("Obsidian"), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the appointment of Craig Rappaport as President, and Nick Dagenais as Chief Financial Officer of Obsidian.
William Jewett, Chief Executive Officer of Obsidian, commented, "Since the formation of our company, Craig has played a key role as COO and CFO in the successful development and subsequent execution of our strategy, which has operational excellence and underwriting profitability at its core. This promotion recognizes and reflects all that Craig has contributed to and will continue to contribute to our future success."
Jewett continued, "The hybrid fronting business is a complex and complicated business, and Craig has a unique and impressive set of knowledge and skills that are unmatched in the sector. His execution capabilities and leadership skills will continue to be a significant driver of our future success and achievements."
Craig Rappaport stated, "It has been a great experience working alongside Bill and our leadership team to build a fronting carrier with capabilities that we believe are second to none. We are well positioned to continue to adapt and prosper in an increasingly competitive and challenging environment."
Nick Dagenais, who has been VP, Finance of Obsidian since the company's formation, assumes the role of CFO, and will continue to report to Mr. Rappaport, President and COO.
Craig Rappaport commented, "Nick has done exceptional work building a strong and scalable financial infrastructure at Obsidian, and has been instrumental in the establishment of our exceptional financial reporting and operational capabilities. He is a very capable executive and is well-prepared for his expanded role."
Jewett concluded, "Both of these promotions are reflective of exceptional performance, as well as organizational growth and complexity. They are key moves towards securing and solidifying Obsidian's position as a leading fronting carrier."
Obsidian Insurance Group carries an "A-" financial strength rating from A.M. Best and is significantly invested in building its infrastructure and a team to expand its hybrid fronting business partnerships, leveraging the Obsidian team's strong technical expertise to work closely with its insurance and reinsurance partners regarding the development and implementation of programs.
About Obsidian
Obsidian Insurance Holdings, Inc. is an insurance holding company with admitted and non-admitted insurance carrier subsidiaries that issue policies underwritten by managing general agents, managing general underwriters, and program managers. Obsidian sources, underwrites, and manages a diverse portfolio of property, casualty, and specialty insurance programs, and reinsures the majority of the business to select reinsurers. Obsidian was formed in 2020 in partnership with leading insurance industry executives and Genstar Capital. For more information, visit www.obsidianspecialty.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
SOURCE Obsidian Insurance Holdings, Inc.
