The latest press releases announcing new hires, appointments and achievements in the Massachusetts insurance industry this week…
Appointments – Risk Strategies
Risk Strategies Company Appoints John Scroope as Managing Director, Northeast Regional Leader
Risk Strategies Company, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced it has hired John Scroope to manage its New England regional operations. Scroope will also lead the company’s corporate headquarters office in Boston.
An industry veteran with over 20 years of experience in insurance management and underwriting, Scroope joins Risk Stragies from Boston-based CNA Insurance where he served as branch president. Prior to that, he was regional president at OneBeacon Insurance and spent the first dozen years of his insurance career in underwriting and marketing with Chubb Insurance.
“We are on a dynamic growth trajectory, but growth is not an end in itself,” stated Risk Strategies Company President, John Mina. “Ensuring that our rapid expansion translates into efficient operations and highly effective client service requires leadership of the type John has exhibited throughout his career.”
Founded in Boston in 1997 as a risk management advisor to upper-middle market companies, Risk Strategies quickly transformed its business model to add insurance placement and broking. It has since established itself as one of the country’s leading specialist brokerages, growing through strategic, often complementary, acquisitions.
“Risk Strategies is clearly building a different type of brokerage — specialist-driven with deep expertise that makes hard problems simple,” said Scroope. “Given my background in insurance and underwriting, I understand the value of effective, well-coordinated operations can have in helping an organization deliver for clients at scale.”
In addition to the Boston headquarters, Scroope will coordinate efforts among a growing footprint of offices and operations in the company’s New England region, including Providence and Newport, Rhode Island; Portsmouth, New Hampshire; Lynnfield; Worcester and Randolph, Massachusetts.
Scroope holds a law degree from the Elisabeth Haub School of Law at Pace University in New York and a bachelor of science in law from Fairfield University in Connecticut.
Appointments – MassMutual
MassMutual Appoints Geoff Craddock As Chief Risk Officer
Massachusetts Mutual Life Insurance Company (MassMutual) announced this month that it has appointed Geoffrey J. Craddock as Chief Risk Officer, effective immediately. He reports directly to Chairman, President and Chief Executive Officer Roger W. Crandall and joins MassMutual from its OppenheimerFunds, Inc. asset management affiliate.
Craddock moves into a position previously held by Elizabeth A. Ward prior to her being named MassMutual’s Chief Financial Officer, and assumed on an interim basis by Brad Hoffman. As Chief Risk Officer, Craddock will be responsible for identifying and managing global operational and reputational risks across MassMutual and its subsidiaries, while establishing the appropriate strategic priorities for the Enterprise Risk Management function. Hoffman will continue to be a part of MassMutual’s Enterprise Risk Management team, reporting to Craddock.
“This is an executive leadership role that continues to grow in importance, given our unwavering commitment to protecting the company and policyowners by identifying and managing the increasing risks all major companies face in today’s rapidly evolving world,” Mr. Crandall said. “In addition to his track record as a highly regarded professional with 20 years of risk management experience, Geoff has a total of 30 years as a financial markets professional – making him an ideally suited leader to drive a holistic risk management approach across our organization. We are delighted to welcome him as our new Chief Risk Officer.”
Craddock began his career in the 1980s in a range of trading and brokerage positions with various investment banks in Europe, including Charterhouse Bank; Banque Indosuez; Donaldson, Lufkin & Jenrette; Paine Webber, and Phillips & Drew.
Upon joining OppenheimerFunds in 2008 as Director of Risk Management – and following a period of historic financial volatility in markets around the world – Craddock played an integral leadership role in successfully advancing the firm’s risk management and asset allocation capabilities, including governance structure. Subsequently, he was appointed OppenheimerFunds’ Chief Risk Officer in 2010.
Immediately prior to his employment at OppenheimerFunds, Craddock was Global Head of Market Risk Management for Canadian Imperial Bank of Commerce (CIBC) where he oversaw global market risk management for the bank’s investment banking, trading and retail activities.
He holds an MBA from Cranfield School of Management and a BA/MA from Magdalene College, Cambridge, both in the UK. Craddock is a member of the Investment Company Institute, the Global Association of Risk Professionals Risk Managers’ Forum and the Risk Management Association.
A board member and chair of the National Eating Disorders Association, Craddock is also a board member and Vice President of Magdalene College Foundation and a former senior trustee and deacon of Stanwich Congregational Church in Greenwich, Conn. At OppenheimerFunds, he was the leadership sponsor of the firm’s charitable corporate giving program.
Appointments – OPTISURE
Peter R. Milnes, CEO of Optisure Risk Partners, announced that Christopher Arnold has been promoted to Vice President of the Sutton James Aviation division of Optisure. Arnold will continue to work with Jon Doolittle, President of Sutton James, in overseeing carrier relations, business development, finance and strategy for Sutton James.
Arnold is a licensed broker who began his career after graduating from Daniel Webster College in 2006. A Director-Elect, Agent & Brokers Division of the Aviation Insurance Association, he holds a Bachelor’s degree in Aviation Management and Flight Operations. He is a Commercial Pilot with an instrument rating with over 1,000 hours. Chris is passionate about flying and can often be found aboard the company SR-22 or Mirage. Chris’s main focus is on fixed wing aircraft and commercial operators. He currently handles accounts ranging from personal, corporate, and commercial aircraft to various other commercial operators and airports.
“Chris has worked with us since Sutton James Aviation joined Optisure and has been instrumental in integrating Optisure’s and Sutton James’ flight departments. His commitment to training and initiative in developing his finance and management skills has been commendable and we look forward to the role Chris will play in the ongoing development of Optisure’s aviation offerings,” said Milnes.
Sutton James is a leading resource for aviation related coverages throughout North and South America. The broker staff are licensed pilots with significant aviation experience and deep carrier relationships, having developed specialty programs including an insurance program specifically to meet the needs of qualified Robinson Helicopter operators. Able to place both fixed wing and helicopter oriented exposures encompassing piston, turbo-prop and jet aircraft, as an Optisure Risk Partner, Sutton James provides best in class market access for personal and business-related aviation exposures.
Optisure’s regional partners operate locally but with global capabilities, addressing the entire spectrum of risk management, employee benefit and property-casualty insurance needs. Their expertise in program underwriting and aggressive program structures enables clients to enjoy some of the most competitive terms and premiums in the marketplace. The organization employs 70+ talented insurance professionals throughout the Northeast and Florida and secures in excess of $160 million of insurance premiums annually for its clients.