(Image credit: Donovan Reeves/Unsplash.)
Colonial Surety Company, a direct and digital insurer based in Woodcliff Lake, N.J., has announced the appointment of Kevin Grzelak as Chief Financial Officer.
In his new role, Grzelak will be responsible for assembling a talented financial team and formulating a comprehensive strategy for exploring potential acquisitions and partnerships, according to a statement from Colonial Surety. He will also lead the company’s strategic expansion initiatives, including capital restructuring designed to support the business’ long-term and short-term goals. Additionally, Grzelak will assume responsibility for overseeing all Generally Accepted Accounting Principles (GAAP) and statutory reporting functions, as well as managing reinsurance agreements.
“Kevin is renowned for his strong cross-functional leadership skills and his proven track record of building high-performance teams aligned with financial objectives,” comments Wayne Nunziata, CEO, Colonial Surety Company. “His commitment to fostering business excellence is vividly demonstrated through his readiness to challenge the status quo. His strategic vision aligns perfectly with Colonial’s mission to expand our suite of technologies and offerings, which aid small and medium-sized businesses in efficiently sourcing, procuring, and managing essential insurance and bond products, key for establishing robust, secure, and well-protected companies.”
Grzelak has over two decades of expertise in the financial services and property/casualty insurance sectors. Prior to joining the Colonial Surety team, he held the role of Chief Financial Officer–U.S. Insurance and Holding Companies at SiriusPoint, where he played a pivotal role in preparing the company for the transition to public status.
Digital Solutions and Industry Knowledge
“I am absolutely thrilled to embark on this new journey with Colonial,” comments Grzelak. “Colonial’s unwavering commitment to seamlessly blending cutting-edge digital insurance solutions with a profound reservoir of industry knowledge is nothing short of inspiring. It’s an exciting opportunity to be joining a company that’s at the forefront of innovation in the insurance sector.”
As a direct and digital insurer, Colonial Surety Company describes itself as dedicated to providing customers with a straightforward and seamless experience when purchasing insurance and bonds. The company’s online platform, combined with exemplary customer service, simplifies the insurance-buying process and removes the hassle from these transactions, the company statement says.