By Henry Gale
Feb 20 - (The Insurer) - Parametric specialist NormanMax Insurance Solutions has appointed Samuel Broomer, formerly Berkley Re's chief strategy and innovation officer, as president of embedded parametric solutions.
Broomer takes up the new role following a sabbatical, according to his LinkedIn profile. Until February 2024, he was executive vice president and chief strategy and innovation officer at Berkley Re, where he spent a decade following experience at Mutual Boiler Re and FSB Group.
MGA NormanMax Insurance Solutions is the coverholder for NormanMax's Lloyd's Syndicate 3939, which specialises in parametric (re)insurance covers for natural catastrophe risks.
It was launched in 2023 by Brad Meier, the founder and former CEO of Florida-based insurer Universal Insurance Holdings.
The Insurer reported earlier on Monday that NormanMax had agreed a deal to acquire UK-based parametric flood MGA FloodFlash, pending approval from the Financial Conduct Authority.
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