Obsidian Insurance Group (“Obsidian”), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the appointment of insurance industry veteran Scott Palladino as Chief Business Development Officer.
William Jewett, Chief Executive Officer of Obsidian, commented, “Scott Palladino is a tremendous addition to our Leadership Team. His extensive underwriting and business development experience within the program space, as well as his broad network within the industry, are among the many things that make Scott a terrific addition for Obsidian, which has established a solid and highly regarded footprint since its formation less than two and a half years ago.”
Jewett continued, “There exists a great demand for proven, top talent within the industry and particularly within the program sector. Scott’s experience, and strong and varied skill sets and relationships, fit exceptionally well with our business strategy, which is based on a commitment to underwriting and operational excellence. He is a great complement to an already formidable team.”
“I am honored and excited to be joining Obsidian,” stated Scott Palladino. “I am extremely impressed with what Obsidian has accomplished – they have built a hybrid fronting carrier with top tier underwriting and operational capabilities in a relatively short period of time. I look forward to meaningfully contributing to our continued growth and success.”
Most recently, Mr. Palladino served in a similar role with Clear Blue, where he was one of the original members of the management team. He started his career at Liberty Mutual, where he held various property and casualty underwriting and management positions over a 22-year period. Subsequently, Scott held leadership positions at Sompo Japan Nipponkoa, including CUO and VP of Specialty Operations. He was also a member of the board of Sompo Marine and Fire Company and a member of the U.S. mergers and acquisition team.
Obsidian Insurance Group carries an “A-” financial strength rating from A.M. Best and is significantly invested in building its infrastructure and a team to expand its hybrid fronting business partnerships, leveraging the Obsidian team’s strong technical expertise to work closely with its insurance and reinsurance partners regarding the development and implementation of programs.
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