September 9, 2024 by matray

Coverys announced today the appointment of Nico Santini, CFA, to be the organization’s first chief investment officer (CIO). Santini will report to president and chief executive Joseph G. Murphy.

With more than 20 years of investment experience, the company reports that Santini will play a pivotal role in setting and achieving long-term goals that support the Coverys’s insurance business. He will also lead Coverys’ investment policy, asset allocation, portfolio and risk management, and investment accounting functions.

Santini is expected to strengthen strategic planning initiatives by bringing investment policy and insights into the investment markets and insurance environment. He has deep expertise on the buy-and-sell side of insurance asset management, strategic and tactical asset allocation, risk and asset liability management, and business planning.

“Our Coverys investment portfolio is a valuable asset in supporting our policyholders, agents and brokers, and our organization to maximize our financial strength and growth opportunities,” Murphy said. “The creation of the chief investment officer role is a recognition of our commitment to our policyholders and our agents and brokers and is an important step in our evolution as an organization with international reach. Nico’s extensive experience building out investment structures will strengthen Coverys’ strategic approach to managing and growing its portfolio, enabling us to better support our ambitious growth goals and capital decision-making processes.

“Coverys has steadily served the needs of its customers as a result of its dedication to strong financial performance and its stable investment philosophy. I’m honored to help set the vision, strategy, and pathways for this next chapter of company growth and join a new team of colleagues committed to excellence.”

Most recently, Santini served as CIO at Coaction Specialty Insurance, leading the investment group through the acquisition of publicly traded ProSight Global, where he also served as CIO. During Santini’s tenure at the two organizations, he grew the investment group’s capabilities and established investment policies and procedures that ultimately supported the investment portfolio. Prior to that, Santini was senior portfolio manager for New England Asset Management.