Property & casualty insurance executive with broad experience

Andrejs O. Krutainis

**** ***** ******, **** ********, New Jersey, 07719

E-mail: **********@*****.***, Phone: 215-***-****

Summary

An accomplished insurance executive experienced in leading field operations and business units. Has developed and profitably grown businesses and turned around difficult situations in a broad range of commercial and personal lines. Deep experience in property underwriting, business development and portfolio management.

Core competencies include:

Strategic planning

Field operations leadership

Distribution partner relationships

Insightful underwriting

Organization and talent development

Highly collaborative, yet decisive

Achievements and Experience

The Hanover Insurance Group 2009 - 2017

President - Northeast Region (2015 to 2017)

Promoted to lead the $1.3B commercial and personal lines region consisting of 8 Northeast states and 9 branch offices, and restore a growth trajectory to this historically profitable territory. Achievements include:

Re-energized stalled $300M Small Commercial business instilling greater ownership by field leaders. Exceeding an aggressive new business plan in 2017 with a run rate of $3.5M new business per month. 6/2017 C/R improved to 87.7% from 90.8% YE 2016.

Hired new Commercial Lines RVP in MA and helped restore positive momentum in highly profitable $190M branch. 4% DWP growth in 2017 vs. -6% YE 2016 exceeding plan by $1.9M at a 38% L/R.

Restructured Northern New England Commercial Lines leadership to restore momentum in the key state of Maine. 3% growth 6/2017 vs. -3% YE 2016 at a 90% C/R.

Guided the re-focus of the New York Metro Commercial Lines portfolio to address emerging Auto and GL development trends. 95% C/R 6/2017 vs. 100% YE 2016. Planned for -5% shrinkage while shifting portfolio mix.

Established $550M Personal Lines business as a growth and profit engine, including significant share shift opportunities within agencies. 5% growth 2016. Over 7% growth 6/2017. L/R down 5 points to 52%.

Managed Specialty business and Field leaders into closer collaboration to deliver sustainable growth for $180M Specialty businesses delivering over 10% growth through 2016 continuing into 2017, even with planned de-emphasis of contract Surety business.

President – Hanover Specialty Industrial (Specialty Property & Program Brokerage) (2009 to 2015)

Hired to implement a growth strategy for this highly profitable Specialty business consisting of two operating units:

Specialty Property underwriting through a loss control centric model

An in-house program broker/Lloyds Coverholder delivering complimentary coverage to company products.

Achievements included:

Assumed leadership shortly after acquisition and grew the core property underwriting business to $80M (5 X’s in size over 6 years) while delivering exceptional pre-tax profit each year ($28M in 2015 – well ahead of plan).

Maintained expense ratio averaging 31% with combined ratios consistently in mid 60’s to mid 70’s.

Established the existing in-house broker as a “problem solver”, programmatic solution provider and potential new product incubator, which steadily increased EBITA each year and generated $30M in premiums.

Achieved Lloyds Coverholder status delivering multiple programs facilitated by Hanover’s Lloyd’s syndicate.

Implemented a new organization structure enhancing distribution and internal Hanover collaboration.

Became well connected to Hanover CL field leadership and their teams – considered a model for other specialty business units based on clear strategy, effective tactics and strong execution.

Harleysville Insurance Group 2007 - 2009

Vice President – Commercial Lines and Property & Inland Marine Specialty

Hired to help drive change in the nature of the home office CL operation, establish a stronger connection to the field organization and enable more effective underwriting, product and market development solutions and support. Achievements included:

Originally hired to focus on property and package business. Subsequently asked to lead all CL underwriting and product management, and assume direct leadership of the Property & Marine specialty business unit. A measure of success can be interpreted by the additional responsibilities that were given during this time.

Developed the strategy for the Property & Marine business and staffed with 20 field specialists generating a growing and highly profitable $50M book.

Implemented a corporate property/package strategy to maintain profitable returns on $400M in business. Strong positive feedback from field teams regarding strategy clarity and usefulness of the playbook provided.

Guided development and implementation of company CAT and Terror aggregation strategies helping facilitate treaty placements and manage corporate exposure to no more that 10% of surplus.

Launched an innovative Package product platform enabling segment specialization and speed to market for small to mid-sized business. Recruited by Hanover shortly after launch.

Based on feedback, established self and team as a true collaborative partner with field leadership and teams.

Comprehensive Auto Resources Company, Inc. 2002 - 2007

Senior Vice President / Chief Operating Officer

Recruited to provide strategic direction, effective business and marketing processes, and increase underwriting company profit of this $15M premium specialty Program Manager. Achievements included:

Transitioned business to new underwriting companies while reducing C/R by 47% to 80% through a better defined strategy and price increases in excess of 100%.

Implemented actuarial and underwriting analysis of programs with insurers/reinsurers to sustain results.

Reduced claims leakage to less than 0.1% from 5% - 6% range.

Structured presentations and placements for insurance and reinsurance for all program offerings delivering greater control and alternative markets for existing programs and 3 new programs generating $5M premium.

The Hartford 2001 - 2002

Senior Vice President - Financial Products

Asked to join Hartford as a member of Financial Products leadership team acquired from Reliance. During the transition, was tasked with the following:

Build the Middle Market Financial Products strategy and launch a department focused on cross selling Management Liability, EPL and E&O products to standard commercial clients by working extensively with Hartford commercial lines divisions on market and product development opportunities.

Expand product capabilities to selectively develop lender oriented collateral insurance program opportunities through an actuarial/underwriting model developed in conjunction with corporate actuarial and implement an exit plan for potentially volatile business segments.

Maintained a 2001 C/R of 90% on in excess of $100M DWP.

Reliance National / RelianceInsurance 1999 - 2001

Senior Vice President PCCD & Program Divisions / Chief Underwriting Officer – Property Lines

Recruited from Reliance Insurance Company to turn around the Property/Custom Casualty Division.

Subsequently asked to take on senior leadership of the newly formed Reliance Program Division. Part of the team that developed a strategic plan for the combination of all Reliance entities into RelianceInsurance. Achievements included:

Responsible for the Property/Custom Casualty Division turn-around delivering a 30% reduction in C/R to 87.5% C/R on $200M premium as of June 2000 (AM Bests downgrade). The Property/Custom Casualty Division consisted of multiple departments including: Property, Inland Marine, Lender Products, Boiler & Machinery, Engineered/Construction Risk, Technical Risk (petrochemical/energy property), Petrochemical/Energy Casualty, and multi-line programs for Brownstone, and other Habitational, and Multi-cultural businesses.

Restructured treaty and facultative reinsurance replacing quota share treaties with excess of loss, increasing capacity to $100M, merging structures for all property within Reliance. Increased net written premiums 350% and reducing facultative spend by 5% points of premium ($25M to $7M).

Subsequently assumed CUO responsibility for all Property, Inland Marine and certain Package lines for all Reliance companies. Re-structured the middle market property team to effectively manage $166 mil of CMP property business with a net staff reduction of 3.

Asked to take on senior leadership of the Reliance Program Division. Identified all multi-line programs within the Reliance Group. Established a multi-functional team to deliver the appropriate infrastructure going forward. Culled non-performing/non-qualifying programs; reducing the number by a third to $200M premium in 25 continuing programs.

Reliance Insurance Company 1996 - 1999

Vice President / Chief Underwriting Officer - Property & Marine

Recruited to provide strategic direction to the company’s Property & Marine lines of business and to develop strategy for middle market, specialty and large risk property. Provide direct leadership of the Property and Inland & Ocean Marine business and specialty field team. Achievements included:

Implemented national and regional strategic plans for profit and growth. Achieving a 48% L/R as of mid-1999.

Developed national and regional CAT strategies to achieve the greatest overall return for the company by implementing both individual risk and portfolio modeling by RMS IRAS tool and managing the portfolio aggregations to no more than 10% of surplus.

Implemented profit strategy for brown water Hull through a targeted distribution strategy and disciplined underwriting, and facilitated sale of $20M underperforming Yacht portfolio made up of smaller boats significantly exposed to Southeast CAT. Net benefit $2.4M.

Introduced new Property, Package and specialty coverages that included an International Package, Law Firm program and Technology program. Generating $5M additional revenue.

Worked with treaty reinsurers to stay on line after two unprofitable years. Execution on portfolio actions convinced them to provide stable reinsurance support. Implemented a facultative purchasing strategy to increase net return without increased risk utilizing a revised line guide including PML assessment and layer pricing tool.

CHUBB

Vice President, Western Zone - Property & Marine / Chubb Custom Market / Commercial Lines 1986 - 1996

A progressive career path marked with leadership positions of increasing responsibility and diversity, which provided the opportunity to dramatically and positively affect the organization’s growth and profitability through leadership of multiple divisions for the Western Zone including worldwide exposure.

Property & Marine Division and Property Practice (1986-96)

Led Property & Marine business consisting of property, inland / ocean marine and boiler & machinery.

Grew mono-line property from smallest to largest zone at $50M, while consistently generating the most profitable results countrywide at 85% C/R.

Managed company’s largest zone for CMP property at $150M consistently performing at less than a 90% C/R.

Managed the company’s countrywide west coast EQ strategy and capacity allocation.

Chubb Custom Market / Wholesale Division (1992-96)

Asked to also lead CCM to develop an effective business strategy and restore profit.

Built the largest CCM zone at $50M (from $15M) generating a C/R of 90% for surplus lines/wholesale business including package, property, casualty (primary and excess), contingency, auto physical damage, high value/high profile homeowners, management liability and E&O. Subsequently added responsibility for Group Accident and various Program business.

Built a partially de-centralized field structure integrated into the CHUBB branch system that was instrumental in delivering the growth achieved.

CCM Entertainment Division (1992-96)

Developed a strategy to restore profit and growth trajectory to the $25M Entertainment Division (principally film production). Both were achieved.

Commercial Lines Division (1995-96) - Co-manager of all commercial lines, principally middle market risks.

Largest zone in company for CMP showing significant deterioration in CMP Liability results (6 points in accident year one). Implemented a strategy to address this with minimal collateral impact prior to joining Reliance.

Began transition to segment business into Middle Market, Small and Technology divisions.

CHUBB prior to Western Zone

Began career with CHUBB as an inland / ocean marine underwriter trainee and advanced to various Property & Marine Regional Manager and Department Manager positions in New York City, San Francisco, and Westchester, NY branches. Responsible for a broad mix of primary and layered property, inland and ocean marine lines, including large regional and national accounts. Consistent track record of achieving profitable results while exceeding growth plans.

Education: Mercy College – Business Management

Extensive participation in ongoing Training and Development – Participant and trainer/facilitator in numerous Leadership, Sales, Management, Process/Project Management and Technical programs, both internal and external.

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