CHICAGO, Illinois, September 25, 2024– Concert Group Holdings, Inc., (“Concert”), today announced that its risk retention platform, Harmony Re, Inc. is fully operationalized with a board of directors in place and a newly-hired industry executive to lead the platform forward.
Katarina Scamborova, who was instrumental in establishing Harmony Re, has been appointed to the position of President. Scamborova reports to Concert’s Chief Executive Officer, John Hendrickson.
Harmony Re’s Board of Directors includes Frank Papalia (as Chair), Charlie Kline and Dave Hupp, as well as Concert Chief Legal Officer Matthew Wagner and Laura Rodrigo, Managing Director of independent insurance company manager Strategic Risk Solutions. More information about the platform’s board is available at www.concertgroup.com/harmony-re
“We’re delighted to welcome Katarina to our executive team at Concert,” said Hendrickson. “Working in collaboration with Chief Underwriting Officer Joe Alberti, she has been invaluable in creating the foundation for Harmony Re. We know that under her expert guidance, and with her deep underwriting and operational expertise, our new risk retention vehicle will flourish.”
“As Concert’s wholly owned reinsurance sidecar, Harmony Re is the group’s balance sheet entity that assumes risk from Concert’s carriers and generates insurance profits with a keen focus on portfolio diversification, risk and capital management,” said Alberti. “The platform provides the company with a second line of defense on portfolio and risk management, as well as additional flexibility in meeting the market’s needs.
“Harmony Re is another example of how, as a hybrid fronting carrier, Concert continues to develop differentiated innovative solutions for the top tier reinsurers with whom we partner.”
Before assisting Concert with the formation of Harmony Re, Scamborova was Managing Director, Swiss Re Corporate Solutions. Her career experience includes seven years at AIG as a senior executive in the General Insurance business segment and two years at McKinsey & Company where she was P&C Insurance Industry Leader.
Scamborova holds a Master of Business Administration from The University of Chicago Booth School of Business and the Chartered Property Casualty Underwriter (CPCU) and Associate in Reinsurance (ARe) designations.
About Concert Group Holdings, Inc.
Concert Group Holdings, Inc. is a privately owned insurance holding company, which, through its wholly owned subsidiaries, Concert Insurance Company and Concert Specialty Insurance Company, offers insurance fronting and related services in the United States. For more information, please visit www.concertgroup.com.
Media contact:
Wendy Davis Johnson
wendy@wendydavisjohnson.com