Sompo Int’l hires ex-Ategrity exec Goodloe for E&S casualty role

Recently departed Ategrity executive John Goodloe has re-emerged as executive vice president of brokerage casualty E&S lines at Sompo International, The Insurer understands.

Sompo International’s hire of Goodloe follows the executive in September leaving his role as chief underwriting officer of brokerage business at expansive E&S carrier Ategrity Specialty Insurance Company, a development revealed by this publication.

Goodloe was a founding member of the Scottsdale, Arizona-based carrier’s management team when it launched in 2018. He has previously worked at Scottsdale Insurance Company, XL Catlin and WR Berkley’s Facultative Resources unit.

The circumstances around Goodloe’s departure from Ategrity were not confirmed. The executive left around the time that Ategrity had secured a $75mn capital raise from Sequentis Financial.

Ategrity’s initial $125mn funding at launch came through hedge fund Zimmer Partners, an operating company of Sequentis.

AM Best last week revised the outlook to negative on Ategrity’s A- financial strength rating, citing concern over recent underwriting volatility resulting from outsized catastrophe losses.

The ratings agency noted that the Mike Miller-led insurer has grown more than originally projected.

AM Best also highlighted the “recent changes in senior management” and the fact that Ategrity is in “the midst of executing a strategy with less inherent volatility”. But the ratings agency said these changes “still need to prove beneficial to the group’s underwriting performance in the intermediate term”.

Sompo International’s E&S casualty offerings include primary business led by New York-based Mark Fuderanan and excess business led by Wayne Hummel in Atlanta and Dana Ohlson in Los Angeles.

This publication revealed in July that Sompo International’s head of E&S excess casualty Jarrett Long had left the carrier along with a number of his team to move to new MGA platform Tango Specialty.

Sompo International declined to comment for this article.