17 December 2020Executive Appointments

CIC Services hires regulatory veteran Christopher Gallo

CIC Services, the Knoxville-based risk management consulting firm, has hired Christopher Gallo as managing director.

Gallo started a 35 year career in regulation in the state of Connecticut’s financial regulation division. He also worked at the Swiss Financial Markets Supervisory Authority (FINMA) and held a supervisory college panel role at the Dutch National Bank (DNB).

He developed captive legislation at the Connecticut Governor’s Office and was examiner in charge for the captive division’s report of examinations and the captive division NAIC self evaluation guide for interim annual and accreditation reviews.

CIC said Gallo’s experience with risk-based captive legislation, the examination process and annual accreditation reviews would help it meet the demands of alternative risk transfer (ART) programmes, and help it secure regulatory approval of ART structures.

Gallo said: “One major lesson I’ve learned from my career in insurance regulation is the critical importance of sustainable liquidity and cash flow, in any enterprise.”

CIC Services founding principal and in-house counsel Sean King welcomed Gallo’s “extensive background in finance, risk management and insurance.”