The Great Bay Insurance Group has appointed Timothy J. Byrne Jr. as president of the group and Ronald R. Lovatt as president of Great Bay Insurance Company, a wholly owned affiliate.
The company, which specializes in coastal homeowners’ insurance in New Jersey, announced the leadership changes as part of its ongoing management strategy.
Byrne Jr., who has nearly 15 years of industry experience, previously served as the group’s chief operating officer, overseeing operations and underwriting strategies. In his new role, he will provide oversight for all corporate support functions and will continue to report to Timothy J. Byrne Sr., chief executive officer of the group.
Byrne Jr. holds a bachelor of science degree in economics and mathematics from the University of Vermont, an MBA in risk management and insurance from St. John’s University, and a CPCU designation.
Lovatt, who has 40 years of insurance industry experience, was a founding member of the group. He has worked in leadership roles with international, national, regional, and start-up insurance companies. In addition to his new role as president of Great Bay Insurance Company, he currently serves as chief underwriting officer and chief claims officer for the group.
Lovatt holds an MBA from The Wharton School of the University of Pennsylvania and a bachelor of science degree in economics, finance, accounting, and marketing from Miami University.
Established in 2019, Great Bay Insurance Group is managed by a team with over 70 years of combined experience in the coastal New Jersey insurance market.
July last year also saw the appointment of Brian Schleider as chief financial officer. With three decades of experience in finance and accounting within the insurance industry, Schleider brings expertise from previous roles at Armour Risk Management and Radian Guaranty.
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