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Openly Expands Reinsurance Division, Appoints Former Everest Re Head of Portfolio Management Anthony Landi as Head of Reinsurance and Capital Management

Tuesday, May 31, 2022 9:00 AM
Openly
https://openly.com/

Landi becomes the latest insurance industry veteran to join Openly's leadership team

BOSTON, MA / ACCESSWIRE / May 31, 2022 / Openly, the premium homeowners insurance provider, has today announced the appointment of Anthony Landi as Head of Reinsurance and Capital Management. Landi will lead Openly's reinsurance division and scale up its internal catastrophe management program as the Company looks towards continuing its successes modernizing the insurance industry landscape.

Prior to joining Openly, Landi spent 10 years at Everest Reinsurance, a top 10 (non-life) global reinsurer, where Anthony most recently established and led the Office of Portfolio Management for the reinsurance division. Before founding the Portfolio Management office, Anthony held various lead underwriting & strategy roles across US property treaty reinsurance, worldwide D&F property reinsurance, and worldwide property retrocession.

Anthony will report to Adriel Nunes, CFO of Openly. "The addition of Anthony as our Head of Reinsurance and Capital Management demonstrates our continued focus on delivering value to our reinsurance partners and shareholders through strong underwriting execution and optimizing of our capital base," said Nunes.

Openly is improving both sides of the combined ratio equation through improved selection from underwriting models and a long-term industry-low operational expense by leveraging automation and independent agents. Technology is a key aspect of Openly's strategy, and through its reinsurance division, is complementing its focus on technology by working closely with traditional and non-traditional reinsurance capacity providers.

"Our unprecedented success within the independent insurance agent channel has been recognized across other facets of the insurance industry," said Ty Harris, CEO of Openly. "We have cultivated meaningful relationships with reinsurers in London, Bermuda, Cayman, and the US-relationships we see evolving alongside our business. To build upon this momentum, we are excited to welcome Anthony Landi as Head of Reinsurance and Capital Management. Anthony brings over 10 years of experience to Openly and will help us deepen our reinsurance relationships."

"Openly is using its deep traditional insurance and reinsurance expertise to create an operating model which will allow it to take in different forms of capital depending on where we are in the various market cycles," said Anthony Landi, Head of Reinsurance and Capital Management at Openly. "We are pleased to announce the completion of our first significant Catastrophe Excess of Loss placement with a diverse panel of reinsurers across the London, Bermuda, and US marketplaces. Each of these reinsurers have shown a proactive interest in our Company's novel approach to insurance through the independent agent channel and have the ability to scale with Openly. We believe our strategic state entry plan, focused on diversification and the maintenance of appropriate volatility during a time of growth, will help us continue to secure critical reinsurance capacity."

Founded by insurance industry veterans Ty Harris and Matt Wielbut, Openly uses next-generation data and technology to offer straightforward, customer-friendly home insurance policies. The company recently announced its tremendous growth in the past year, achieving 700% in in-force premium, 250% growth in independent insurance agents selling on its platform, and hiring more than 100 employees. This rapid growth signals the company's continued commitment to bringing independent agents transparent and comprehensive home insurance coverage.

Openly is actively recruiting for remote positions. Please visit Openly's career page for all opportunities. For more information, please visit Openly's website.

About Openly

Openly is a technology-driven premium homeowners insurance company. Its centralized platform offers comprehensive coverage using advanced pricing models. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners' insurance and empowering independent agents across America. For more information, visit Openly.comorlinkedin.com/openlyinc.

Media Contact:

Ross Stevens
Caliber Corporate Advisers for Openly
[email protected]

SOURCE: Openly

Topic:
Company Update
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