Concert Group Holdings Appoints Sam LaDuca Chief Actuary

Recently formed insurance fronting business Concert Group Holdings, Inc., has appointed Sam LaDuca as chief actuary. Mr. LaDuca, who will report to Concert Group's CEO Jonathan Reiss, will take his new post on April 1, 2022.

"With Sam's hire, Concert's full executive team is now in place," Mr. Reiss said in a statement. "He's an excellent addition, bringing broad operational capabilities and underwriting leadership in addition to his extensive actuarial experience."

Mr. LaDuca joins Concert after 25 years with Merchants Insurance Group. During his tenure at Merchants Insurance, he was promoted to increasingly senior positions, the most recent being executive vice president, product, underwriting, and actuarial. In addition to his responsibility as the company's chief actuary, he held senior leadership roles in product management, corporate programs, corporate underwriting, and finance.

Prior to Merchants Insurance, Mr. LaDuca worked for 3 years at PricewaterhouseCoopers (formerly Coopers and Lybrand) as a senior consultant in the firm's casualty actuarial/risk management practice.

He is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries and holds the Chartered Property Casualty Underwriter designation.

Mr. LaDuca is a graduate of Canisius College, Buffalo, New York, and holds a bachelor of arts degree in mathematics with a concentration in economics.

"As we've been completing our final executive hires, we've also been making rapid progress in broadening our licensing footprint," Mr. Reiss said. "Our [excess and surplus] carrier, Concert Specialty, began underwriting in December 2021 and our admitted carrier, Concert Insurance, is currently approved in 31 US states, with more approvals expected within the next few weeks.

"In addition, we've established our head office in Chicago and have offices in Florida and New Jersey," Mr. Reiss said. "We've begun the process of staffing these offices and are delighted with the interest we're receiving in working at Concert. We feel our successful recruitment of top talent, as well as the market's keen interest in doing business with us, are testament to Concert's vision of being a new kind of fronting company."

Concert Group Holdings, Inc., a privately owned insurance holding company, was founded by Brady Young, founder and CEO of Strategic Risk Solutions; Wes Duesenberg Jr., CEO of Southern Insurance Underwriters; and Christopher Collins, CEO/founder of Corinthian Re, in partnership with Century Equity Partners and WT Holdings, Inc.

Through its wholly owned subsidiaries, Concert Insurance Company and Concert Specialty Insurance Company, Concert offers insurance fronting and related services throughout the United States.

In October 2021, Concert announced that it had secured $100 million in capital to fund its growth as a US insurance fronting business.