Praveen Reddy appointed President & CEO of Penn-America Underwriters

Global Indemnity Group, LLC (GBLI) has announced the appointment of Praveen K. Reddy as the new President and Chief Executive Officer (CEO) of Penn-America Underwriters, LLC, its new subsidiary.

Formed following an internal reorganisation announced earlier this year, Penn-America Underwriters is GBLI’s distribution and specialised services group that focuses on the underwriting, growth and distribution of insurance products, technology services, and claims services.

Reddy brings over 25 years of experience in the insurance industry to his new role, having most recently served as Global President and COO of Innovisk Capital Partners, a global multi-line MGA platform.

Prior to that, he was the COO of Velocity Risk, a Specialty and E&S lines MGA.

In his new role, Reddy will be reporting directly to Joseph W. Brown, CEOof Global Indemnity Group, who commented: “I am delighted to have Praveen join GBLI as the leader of our new subsidiary Penn-America Underwriters, LLC.

“We reorganised our company last year to increase our ability to serve our existing agency partners and to bring additional products and services to our customers. Praveen’s extensive background will complement the existing skills of our team and provide the leadership energy to drive value growth for our shareholders.”

Reddy said: “I am excited to be joining the GBLI team and to lead the Penn-America Underwriters business. Looking forward to working with the entire leadership team in driving the next phase of growth and operational efficiency, as part of the Project Manifest strategy. I am thrilled to be part of the journey ahead.

“In addition to driving growth in existing lines, we will be looking to launch new products/teams and make strategic acquisitions.”

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