MISSION has added a new program to its Latin America platform, CRC Group has named a new Chief Human Resources Officer, and PhysNet has appointed a new Chief Operating Officer, in three separate leadership announcements this week.
Specialty insurance program administrator MISSION has announced that Capital Bay Underwriting, a Miami-based MGU, will join MISSION Latin America as the platform's first program. Capital Bay provides financial lines facultative reinsurance solutions for private and public companies in Latin America and the Caribbean, and has underwritten risks across 27 countries since 2018. Formerly part of Ryan Specialty, Capital Bay began operating as a MISSION program effective immediately.
Capital Bay will continue to be led by Pascal Alvarez alongside David Gonzalez, who will assume the role of chief executive officer as part of a planned leadership transition. Alvarez will remain actively involved as executive chairman, supporting ongoing operations and strategic development. The pair has led in the Latin American insurance market for more than twenty years.
The team will remain based in Miami. MISSION launched its Latin America platform in March 2026 under Alejandro Pedroza (pictured, left), a former AIG Ecuador CEO, targeting property, financial lines and specialty segments in a region where insurance penetration remains below 5% of GDP. MISSION reported more than $700 million in gross written premium in 2025 after launching five new programs.
CRC Group has announced the appointment of Elizabeth Newman (pictured, right) as chief human resources officer. Newman will lead the company's people strategy and oversee its Human Resources division, drawing on more than 20 years of executive leadership experience in workforce modernization and acquisition integration.
Newman most recently served as chief human resources officer for a publicly traded professional services company, where she helped integrate thousands of employees following acquisitions.
"I am excited to join CRC Group and contribute to an organization known for its strong culture, exceptional talent, and commitment to delivering results for clients and partners," Newman said. "I look forward to joining the leadership team focused on investing in our people, supporting business growth, and building an environment where employees can thrive and achieve their full potential."
The hire comes as CRC Group, part of Truist Insurance Holdings, continues an active acquisition pace, having recently completed purchases including Euclid Transactional and Atrium Underwriting Group.
PhysNet has welcomed Michelle Despres as chief operating officer.
In the role, Despres will help scale the company's approach to injury recovery, which pairs human expertise, predictive analytics and quality-based provider matching to guide injured workers to appropriate physical therapy care.
Despres said: "I am excited to join PhysNet at such an important time in its evolution. The company's commitment to doing the right thing for clients, provider partners, patients, and employees reflects the values that have guided my career. I look forward to helping our teams build on that foundation and expand our impact nationwide."
Founded in 2005, PhysNet manages large-scale national workers' compensation physical therapy programs through a network of clinic-based, mobile and telerehab providers, an approach built around its proprietary referral-triage technology.
