AmTrust Financial Services, Inc. Strengthens Senior Management Team with Appointment of Ariel Gorelik as SVP and Chief Infor...
August 16 2017 - 8:30AM
AmTrust Financial Services, Inc. (Nasdaq:AFSI)
(the “Company” or “AmTrust”) today announced that
Ariel Gorelik, an experienced global insurance industry
executive and most recently Chief Operating Officer of AmTrust’s
AMT Warranty division, has been appointed Senior Vice President and
Chief Information Officer (CIO), reporting to Chairman and Chief
Executive Officer Barry Zyskind. Mr. Gorelik succeeds Christopher
Longo who continues as EVP and Chief Operating Officer, appointed
in 2016, who has guided technology development at AmTrust as the
Company’s CIO since 2006.
Mr. Gorelik will lead AmTrust’s global IT
organization, with a focus on operational excellence across the IT
function. He is responsible for ensuring that AmTrust will continue
to lead through technology innovation and capitalizing on
technology solutions to help enable AmTrust fulfill its business
goals. Mr. Gorelik’s extensive operational leadership experience in
the insurance sector includes expertise in centralization of
operations and transformation of service delivery to improve
customer satisfaction.
Mr. Gorelik joined AmTrust in 2014 as Senior
Vice President AmTrust North America operations, and in January
2016 was promoted to Chief Operating Officer of AMT Warranty, one
of the Company’s operating subsidiaries in the U.S. Prior to
joining AmTrust, from 2013 to 2014, Mr. Gorelik was a managing
consultant of the ICON division for Zurich North America, a
property and casualty insurer. From 2010 to 2013, he served as
deputy chief operating officer at SK Allianz/Allianz Group, a
German property and casualty insurer. He was responsible for the
procurement, real estate management, and transportation
departments, as well as for areas of IT relating to Allianz’s core
insurance system. He also led the organization’s full automation of
the policy life cycle. Prior to his role as deputy COO, Mr. Gorelik
served as head of Allianz Eurasia’s business services, where he
established a shared service center with a number of back and
middle office functions, including claims handling, P&C policy
administration, payments, and call center.
“AmTrust has always led with technology and
innovation, which have been a competitive differentiator for us,”
said Barry Zyskind, Chairman and Chief Executive Officer. “Under
Ariel Gorelik’s leadership as Chief Information Officer, we will
continue to harness the power of our technology platforms and
digital capabilities. Similarly, we now can maximize Chris Longo’s
management focus as AmTrust’s Chief Operating Officer to enable us
to undertake the initiatives and processes to optimize results
across our business units and product and service offerings.”
Mr. Zyskind continued, “With more than 400
knowledge developers within our IT staff of 1,000 men and women
supported by in-house underwriting, actuarial and claims processing
experience, innovation is in our DNA. Chris has been instrumental
in developing our technology platforms and building our IT
organization into the powerhouse it is today. He led the
development of a single proprietary platform that allows us to
continually improve the experience of our agents and our customers.
It also allows us to develop new products and integrate emerging
technologies quickly. With our IT function well established, Ariel,
as Chief Information Officer, can move us further forward,
utilizing his abilities to increase efficiencies across broad
organizations and platforms, while enhancing the experience of our
brokers, agents, and policyholders.”
About AmTrust Financial Services,
Inc.
AmTrust Financial Services, Inc., a
multinational insurance holding company headquartered in New York
offers specialty property and casualty insurance products,
including workers' compensation, commercial automobile, general
liability and extended service and warranty coverage through its
primary insurance subsidiaries rated "A" (Excellent) by A.M. Best.
AmTrust is included in the Fortune 500 list of largest companies.
For more information about AmTrust visit
www.amtrustfinancial.com.
Forward-Looking Statements
This news release contains certain
forward-looking statements that are intended to be covered by the
safe harbors created by the Private Securities Litigation Reform
Act of 1995. When we use words such as “anticipate,” “intend,”
“plan,” “believe,” “estimate,” “expect,” or similar expressions, we
do so to identify forward-looking statements. Examples of
forward-looking statements include the plans and objectives of
management for future operations, including those relating to
future growth of our business activities and availability of funds,
projections of the impact of potential errors or misstatements in
our financial statements, and estimates of the impact of material
weaknesses in our internal control over financial reporting, and
are based on current expectations that involve assumptions that are
difficult or impossible to predict accurately and many of which are
beyond our control. Actual results may differ materially from those
expressed or implied in these statements as a result of significant
risks and uncertainties, including, but not limited to, non-receipt
of expected payments from insureds or reinsurers, changes in
interest rates, a downgrade in the financial strength ratings of
our insurance subsidiaries, the effect of the performance of
financial markets on our investment portfolio, the amounts, timing
and prices of any share repurchases made by us under our share
repurchase program, development of claims and the effect on loss
reserves, accuracy in projecting loss reserves, the cost and
availability of reinsurance coverage, the effects of emerging claim
and coverage issues, changes in the demand for our products, our
degree of success in integrating acquired businesses, the effect of
general economic conditions, state and federal legislation,
regulations and regulatory investigations into industry practices,
the impact of known or potential errors or misstatements in our
financial statements, our ability to timely and effectively
remediate the material weaknesses in our internal control over
financial reporting and implement effective internal control over
financial reporting and disclosure controls and procedures in the
future, risks associated with conducting business outside the
United States, the impact of Brexit, developments relating to
existing agreements, disruptions to our business relationships with
Maiden Holdings, Ltd. or National General Holdings Corp., breaches
in data security or other disruptions with our technology,
heightened competition, changes in pricing environments, and
changes in asset valuations. Additional information about these
risks and uncertainties, as well as others that may cause actual
results to differ materially from those projected, is contained in
our filings with the SEC, including our Annual Report on Form 10-K
and our quarterly reports on Form 10-Q. The projections and
statements in this news release speak only as of the date of this
release and we undertake no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
For more information, please contact:
AmTrust Financial Services, Inc.
Chaya Cooperberg
Chief Communications Officer & SVP Corporate Affairs
chaya.cooperberg@amtrustgroup.com
646.458.3332
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