Former Ascot Re CEO Joins Coaction Board of Directors

MORRISTOWN, N.J., May 23, 2024 (GLOBE NEWSWIRE) -- Coaction Specialty Insurance Group (Coaction), a privately-held specialty insurance company, is pleased to announce that John Berger is joining as Chairman of the Board, effective immediately.

Berger’s leadership and business acumen, supported by decades of executive experience, are expected to bolster Coaction’s Board further. He will support Coaction’s Management Team in evaluating its strategic direction and achieving its objectives.

“I am pleased to welcome John Berger, who brings a track record of success leading modern, global companies in our industry, and whom we hold in the absolute highest regard,” said Jonathan Ritz, CEO of Coaction.

“I am happy to join Coaction as Chairman of the Board,” said Berger. “I look forward to working with Jonathan to advance the organization’s franchise value further and deliver exceptional results for our stakeholders.”

Berger replaces previous Chairman Stan Galanski, who has held the position since August of 2021.

“I would like to thank Stan, who has brought invaluable insight to help Coaction navigate through the past several years during his time as Chairman of the Board,” Ritz added. “While Stan will be missed, I am confident we are in good hands with John’s leadership providing stability and guidance to Coaction in the years ahead.”

Before retiring from Ascot Re in 2021, Berger was the founding Chairman and CEO of Third Point Reinsurance Ltd., a publicly traded reinsurer based in Bermuda launched in 2012. Previously, Berger was the CEO of reinsurance and Vice Chairman of the Board for Alterra Capital Holdings Limited (previously known as Max Capital Group Ltd.). He also served as Chairman of Alterra Reinsurance Limited (previously known as Harbor Point Re Limited).

From August 1998 to December 2005, Berger was the CEO and President of Chubb Re, Inc., and he was one of the original members of the F&G Re team. He holds an undergraduate degree in Economics from Princeton University, an M.B.A. from Rutgers University, and is a chartered property casualty underwriter (CPCU).

About Coaction Specialty Insurance Group
Coaction Specialty Insurance Group (Coaction) is a privately-owned, specialty P&C insurance company. Coaction is a full specialty underwriter across seven (7) major product verticals: Property, Primary Casualty, Excess Casualty, Entertainment, Professional Lines, Binding Authority, and Marine, Energy, & Transportation.

Through these verticals, Coaction provides a range of coverages to U.S. customers via both open brokerage and delegated underwriting authority platforms. Coaction’s authentic, collaborative, and results-oriented culture is reflected in the focused approach the company takes to fulfilling the needs of each individual customer by combining product, analytics, and underwriting capabilities with strong industry knowledge and partnerships to develop real-world solutions. Through data-driven insights and collaboration with partners, the company coacts with customers and partners to rationally manage risk so businesses and communities can build a more ambitious, confident, and sustainable future. For more information, visit https://www.coactionspecialty.com/.

Media Contact:Jennifer OverhulseSt. Nick Media Services
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