Avoca Insurance Holdings (AIH) announced that Kevin Smith was named president of its facultative and program underwriting subsidiary, DirectFac Inc., and was added to its board of directors. Smith will be based out of Philadelphia, and responsible for building out the property product lines nationwide.
Smith has spent more than 30 years in the property insurance and reinsurance business, including his most recent position as chief underwriter of the direct facultative property programs unit at Munich Re America.
“We are excited to have such a talented and well rounded individual like Kevin join our management team,” says Kevin Davidson, CEO of DirectFac. “As we build out our product offerings, Kevin brings unique skill sets to DirectFac, particularly in the property program area. He has a tremendous track record, second-to-none in property facultative business, and we are confident that DirectFac will be able to better serve our customers as we build out our businesses under his leadership.”
“I am pleased to join DirectFac and the Avoca Group at this exciting time," Smith says. "DirectFac has a solid underwriting legacy, and a tremendously cost-efficient platform supported by modern technology. This powerful combination will enable us to customize underwriting solutions for our clients while at the same time minimizing the frictional costs of facultative business.”
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