Core Specialty Announces Changes to its Board of Directors

GlobeNewswire

CINCINNATI, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Core Specialty Insurance Holdings, Inc. and its subsidiaries (“Core Specialty” or the “Company”) announced today that David Ni has been appointed to the Board of Directors of the Company effective immediately, in replacement of Robert Campbell. Mr. Campbell has served on the Company's Board since the Company's recapitalization in November 2020 as one of two Directors designated by Enstar Group Limited (“Enstar”). The Board and management of the Company are grateful for his many contributions and wish him the very best in the years ahead.

Mr. Ni currently serves as Chief Strategy Officer at Enstar, a position that he has held since May 2022. Mr. Ni joined Enstar and served as Executive Vice President, Mergers & Acquisitions in 2019. Prior to joining Enstar, Mr. Ni spent his career as an investment banker working in the U.S. and in Asia and was a Managing Director at Deutsche Bank with responsibility for leading M&A in financial services. Prior to that, he was with Goldman Sachs for more than 10 years covering the financial services sector. Mr. Ni graduated with a bachelor’s degree from Harvard University.

Commenting on the changes to the Company’s Board, Jeff Consolino, Core Specialty’s Founder, President and CEO, said, “Enstar made an essential contribution to Core Specialty at formation in 2020, providing us with the admitted and non-admitted insurance companies to underwrite specialty commercial insurance in all 50 U.S. states and entering into a combination loss portfolio and adverse development cover reinsurance agreement allowing Core Specialty to focus on growing our business rather than managing legacy exposures. We appreciate Enstar’s stated commitment to helping Core Specialty reach its full potential as a specialty commercial property & casualty insurer including, as opportunities warrant, in our potential future acquisition activities.”

Mr. Noonan said: “We have assembled a Board comprised of company founders and business builders which we believe is second to none. We appreciate Bob Campbell’s leadership on our Board and his many contributions in his areas of expertise. The addition of David Ni’s skills and experience to our Board will greatly benefit Core Specialty and provide further diverse perspective to our existing skills mix. David will be an excellent fit with the other members of the Core Specialty Board.”

About Core Specialty

Core Specialty offers a diversified range of property and casualty insurance products for small to midsized businesses. From its underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge; offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers. Core Specialty is an insurance holding company operating through StarStone Specialty Insurance Company, a U.S. excess & surplus lines insurer, and StarStone National Insurance Company, Lancer Insurance Company, and Lancer Insurance Company of New Jersey, each of which is a U.S. admitted markets insurer. The Company is rated A- XII (Excellent) by AM Best. For further information about Core Specialty, please visit www.corespecialty.com.