With immediate effect, Katie Davies was named CEO and Jeff Smith was named President and Chief Underwriting Officer (CUO) of Power Energy Risk’s (PERse) North American operations by international specialty insurer Ryan Specialty Holdings.
Mike Bernay, who will continue to be a senior advisor to the company until he retires, is replaced by Davies.
In 2011, Bernay established PERse, Ryan Specialty’s managing general underwriter for renewable energy.
The speciality insurer asserted that Davies has vast expertise building facilities and staff that specialize in highly-engineered and cat-exposed risks.
Davies will continue to serve as the CEO of Technical Risk Underwriters and JEM Underwriting Managers, which underwrite cat property.
Smith, one of PERse’s founders, has been named the company’s president while continuing in his role as chief underwriting officer. Smith was instrumental in the founding and growth of PERse, serving as its underwriting, engineering, and claims management head.
“I am looking forward to Katie contributing her knowledge and platform resources in capital management, loss control, and engineering to PERse during this leadership change. Additionally, this is a wonderful acknowledgement of Jeff’s outstanding contribution to creating and managing PERse, according to Miles Wuller, CEO & President of Ryan Specialty Underwriting Managers.
