He brings greater than three many years of experience to the twin position
Fleming Insurance coverage Holdings introduced the appointment of Michael Garceau (pictured above) as the corporate’s new chief monetary officer and chief working officer.
As per a news release, Fleming highlighted Garceau’s position as central to facilitating the corporate’s development in expertise and synthetic intelligence.
Garceau brings 30 years of trade expertise to Fleming. He beforehand based the Garceau Company, supported by Goosehead Insurance coverage, to supply inexpensive insurance coverage in Connecticut and Massachusetts. Earlier than that, he based Apogee Properties, a startup with a various portfolio of business and residential actual property.
Garceau expressed enthusiasm about becoming a member of Fleming.
“As knowledgeable who appears to inventive and bespoke options, I see immense worth within the workforce’s cutting-edge machine studying and synthetic intelligence applications to additional Fleming’s capabilities and pave the way in which for expertise within the reinsurance trade,” Garceau stated.
Eric Haller, chief govt officer of Fleming, famous Garceau’s success as an govt and entrepreneur.
“Over time, Michael has distinguished himself as a profitable govt and entrepreneur, creating working fashions throughout monetary operations and claims to search out options for shoppers and companies. We’re thrilled to have him as part of the Fleming workforce to broaden our operational capabilities and help our enlargement,” Haller stated.
In April, and following a brief saga between purchaser and vendor, James River Group introduced the completion of the sale of its subsidiary, JRG Reinsurance Firm (JRG Re), to Fleming Intermediate Holdings for the beforehand agreed upon phrases of $277 million.
“We’re happy to have efficiently accomplished our sale of JRG Re to Fleming in accordance with the Inventory Buy Settlement that the events negotiated collectively and executed on November 8, 2023. James River will proceed to focus its sources on its core US insurance coverage companies the place we’ve significant scale, together with our E&S and fronting companies,” James River CEO Frank D’Orazio stated.
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