Coverys Launches Coverys International Insurance Co.
April 28, 2022by
Coverys announced the launch of Coverys International Insurance Co., based in Dublin, Ireland. Coverys International will write a portfolio of European specialty liability business primarily distributed through the group’s pan-European network of MGA companies that includes Bridge Insurance Brokers in Italy, AEC Group in Italy and Spain, and Brady Underwriting in Ireland.
Coverys International will be led by chief executive officer Rajeeva Aluwihare, previously chief operating officer of Coverys European Holdings (CEH) and Christina Lippert as chief underwriting officer. Steven Spano, chief executive officer of CEH will join the company’s board of directors as non-executive chairman.
Aluwihare has more than two decades of experience in the insurance industry, including 19 years in increasingly senior roles at Italian insurer Generali. Lippert has 25 years of experience with major international insurers focused on European specialty insurance products.
“Coverys International will expand our European risk-taking capabilities and provide our MGAs across Europe with additional insurance capacity to grow their businesses," said Steven Spano, Coverys Europe Holdings chief executive officer. "We continue to see attractive opportunities through our managing agencies across Europe. In Rajeeva, we have a highly experienced business leader ready to use leading-edge technologies to bring this vision to market to benefit our agency network’s clients and brokers.”
“The demand for the products offered by our managing agency partners is tremendous," Aluwihare said. "By providing additional capacity for these profitable portfolios, we will facilitate the growth of local European business, not only for us at Coverys, but for the other insurance markets that partner with the CEH agency network and our reinsurers. I look forward to working with our extensive network to realize our ambition.”