Global Indemnity Group Welcomes Praveen K. Reddy as CEO of Penn-America Underwriters
Global Indemnity Group, LLC (GBLI) is pleased to announce the appointment of Praveen K. Reddy as the new President and Chief Executive Officer of Penn-America Underwriters, LLC, a newly established subsidiary of GBLI. This new entity was formed as part of an internal reorganization unveiled earlier this year.
Penn-America Underwriters serves as GBLI’s dedicated distribution and specialized services arm, concentrating on the underwriting, expansion, and distribution of insurance offerings, as well as providing technology and claims services.
Reddy, who brings with him over 25 years of experience in the insurance sector, previously held the position of Global President and COO at Innovisk Capital Partners, a comprehensive global multi-line MGA platform. Before his tenure at Innovisk, he was the COO of Velocity Risk, specializing in Specialty and E&S lines underwriting.
In his new leadership role, Reddy will report directly to Joseph W. Brown, the CEO of Global Indemnity Group. Brown expressed his enthusiasm, stating: “I am thrilled to welcome Praveen to GBLI as the head of our new subsidiary, Penn-America Underwriters, LLC. Our restructuring last year was aimed at enhancing our service to existing agency partners and broadening our product and service offerings to clients. Praveen’s vast expertise will enhance our team’s capabilities and provide the leadership drive necessary for shareholder value growth.”
Praveen K. Reddy remarked, “I am excited about joining the GBLI team and steering the Penn-America Underwriters business. I look forward to collaborating with the leadership team to propel the next phase of growth and operational excellence as part of the Project Manifest strategy. It’s an exhilarating opportunity to contribute to the journey ahead.”
Reddy further added, “Aside from fostering growth in our current lines, we plan to introduce new products and teams, alongside pursuing strategic acquisitions.”
