14 December 2022Reinsurance

Hendrickson replaces Reiss as Concert CEO

Concert Group Holdings has announced the appointment of John Hendrickson as chief executive. Hendrickson will take up his new position on January 1, 2023. He succeeds Jonathan Reiss, who assumed the role of chief executive at Concert’s inception in 2021.

Hendrickson’s nearly 40 years’ experience includes executive roles at StarStone Group, Validus Group, and Swiss Re. In addition, Hendrickson has served as an advisor to numerous clients in the re/insurance sector, including as a founding member of Smith Barney’s insurance investment banking practice from 1985 to 1995.

“We’re delighted to welcome John to Concert,” said chairman Brady Young. “Throughout his career, John has distinguished himself in delivering quality solutions and support to his client relations. His deep knowledge and experience in financial markets and the insurance industry represents precisely the right skill set as we enter our second full year of operation.

“We owe a debt of gratitude to Jonathan for leading Concert through our build-out phase. Among other milestones, he oversaw the launch of our excess and surplus lines platform, Concert Specialty Insurance Company, to complement our admitted carrier, Concert Insurance Company, and the recruitment of a seasoned leadership team.

“Jonathan will continue to provide us with his guidance and expertise as a member of the Board, ensuring a seamless leadership transition as he hands the reins to John.”

“I’m genuinely impressed with Concert’s leadership team,” said Hendrickson. “The company has positioned itself as a specialty fronting carrier focused on serving the captive and program business market segments. I am excited to capitalise on what I consider a unique market opportunity.

“Led by chief underwriting officer, Joe Alberti, Concert has developed a client-centric underwriting culture with a willingness to work with their business partners to find innovative risk solutions while remaining committed to disciplined underwriting. Concert also benefits from shareholders with a deep understanding of and appreciation for delivering superior risk transfer economics and structures in a rapidly evolving market.”