Delos Insurance Solutions, a property insurance managing general agent (MGA) specializing in wildfire risk, has named Gloria Hendrickson (pictured above) as its new head of reinsurance.
The appointment comes as the company continues to expand its offerings and recently completed a US$9 million capital raise. Delos said that it aims to extend its wildfire insurance expertise beyond its current California focus.
Hendrickson brings extensive experience in catastrophe modeling and underwriting, having previously served as chief operating officer and chief underwriting officer at NormanMax Insurance Holdings and New Paradigm Underwriters.
As part of the appointment, her responsibilities at Delos will include securing reinsurance capacity for new programs and strengthening partnerships with reinsurance providers.
In a statement, Delos CEO Kevin Stein said that Hendrickson’s expertise aligns with the company’s goals, highlighting her background in underwriting and catastrophe modeling.
“Her impressive experience in underwriting and catastrophe modeling is well suited to Delos' objectives,” Stein said. “The number of homes and businesses located in wildfire stressed areas continues to increase and Delos is committed to providing affordable insurance in these areas.”
Hendrickson also expressed enthusiasm about joining Delos, citing the company's innovative approach to underwriting and risk management.
“Not many insurance providers stand out from the crowd. Delos does,” she said. “It uses sophisticated underwriting techniques to focus on areas other insurers are running away from, while delivering market-leading loss ratios. I’m looking forward to working closely with our reinsurance partners to offer new and improved insurance solutions for wildfire stressed locations.”
Currently, Delos provides property insurance coverage for a total insured value of $40 billion, primarily serving homeowners in California. Using its proprietary wildfire model, the company reclassifies 65% of properties deemed high risk by other insurers as medium or low risk.
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