New insurance fronting business Concert Group Holdings has appointed Sam LaDuca as chief actuary.

Starting April 1, LaDuca will report to Bermudian chief executive officer and founder Jonathan Reiss.

“With Sam’s hire, Concert’s full executive team is now in place,” Mr Reiss said. “He’s an excellent addition, bringing broad operational capabilities and underwriting leadership in addition to his extensive actuarial experience.”

As Concert completes its final executive hires, it has also been making rapid progress in broadening its licensing footprint.

Its E & S carrier, Concert Specialty, began underwriting in December 2021 and its admitted carrier, Concert Insurance, is currently approved in 31 US states, with more approvals expected within the next few weeks.

“In addition, we’ve established our head office in Chicago and have offices in Florida and New Jersey,” Mr Reiss said. “We’ve begun the process of staffing these offices and are delighted with the interest we’re receiving in working at Concert.

“We feel our successful recruitment of top talent, as well as the market’s keen interest in doing business with us, are a testament to Concert’s vision of being a new kind of fronting company.”

Mr LaDuca comes to Concert after 25 years with Merchants Insurance Group. During his tenure at Merchants Insurance, he was promoted to increasingly senior positions, the most recent being executive vice-president, product, underwriting and actuarial.

In addition to his responsibility as the company’s chief actuary, he held senior leadership roles in product management, corporate programmes, corporate underwriting and finance.

Before Merchants Insurance, Mr LaDuca worked for three years at PricewaterhouseCoopers (formerly Coopers & Lybrand) as a senior consultant in the firm’s casualty actuarial/risk management practice.

He is a fellow of the casualty actuarial society and a member of the American Academy of Actuaries, and holds the Chartered Property Casualty Underwriter designation.