Hanover Stone Partners appoints new execs for captive insurance practice

Duo bring a combined 60 years of industry experience to their roles

Hanover Stone Partners appoints new execs for captive insurance practice

Insurance News

By Ryan Smith

Risk-management services firm Hanover Stone Partners has announced the appointment of Michael T. Scott (pictured) and Philip J. Stevens as senior risk advisors.

Scott and Stevens join the leadership team of Hanover Stone Partners CaptiveGuard, a specialty practice that provides governance and related advisory services for captive insurers and their parent companies.

“Although the commercial insurance market has been relatively stable for several years, the spate of natural disasters in the US and other parts of the world this year has prompted some risk managers to look more closely at the roles of captive insurers in their overall insurance program,” said John J. Kelly, founder and CEO of Hanover Stone Partners. “To help with their evaluations, we are continuing to expand the capabilities of our special practice focusing on captive governance and performance. Michael and Phil bring deep expertise in captive insurance, and we are pleased to welcome them to our team.”

Scott, an attorney, has more than 20 years of leadership experience in risk management and insurance. Prior to joining Hanover Stone Partners, he was vice president of insurance and risk management at Archer Daniels Midland Company (ADM) and president and general counsel of ADM captive Agrinational Insurance Company. During his tenure as president, Agrinational became one of the first captives to receive approval from the Department of Labor to reinsure employee benefits. Scott has also worked as a corporate attorney for State Farm Insurance Companies.

Stevens’s career in insurance spans 40 years – nearly three decades of which have been devoted to captive insurance company formation, reinsurance and captive management. In addition to his role at Hanover Stone Partners, Stevens leads Rowayton Risk Consulting, a captive-advisory firm he founded in 2013. Stevens has also served as managing director of marketing and client services for Ampliture Reinsurance Company of Delaware and vice president of the captive management group for AIG Insurance Management Services. He also managed Aon’s rent-a-captive operations in Bermuda and the Caymans.



 

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!