Concert establishes risk retention platform with Katarina Scamborova as President

Concert Group Holdings (Concert), a privately owned insurance holding company, has announced the establishment of its new risk retention platform, Harmony Re, appointing Katarina Scamborova as President and forming a board of directors.

Scamborova, who played a key role in establishing Harmony Re, will report to John Hendrickson, CEO of Concert.

Harmony Re’s Board of Directors comprises Frank Papalia as Chair, Charlie Kline, Dave Hupp, Concert’s Chief Legal Officer Matthew Wagner, and Strategic Risk Solutions Managing Director Laura Rodrigo.

Hendrickson expressed his enthusiasm for Scamborova’s appointment, stating, “We’re delighted to welcome Katarina to our executive team at Concert.

“Working in collaboration with Chief Underwriting Officer Joe Alberti, she has been invaluable in creating the foundation for Harmony Re. We know that under her expert guidance, and with her deep underwriting and operational expertise, our new risk retention vehicle will flourish.”

Joe Alberti, Chief Underwriting Officer at concert, noted, “As Concert’s wholly owned reinsurance sidecar, Harmony Re is the group’s balance sheet entity that assumes risk from Concert’s carriers and generates insurance profits with a keen focus on portfolio diversification, risk and capital management.”

He added, “The platform provides the company with a second line of defence on portfolio and risk management, as well as additional flexibility in meeting the market’s needs.

“Harmony Re is another example of how, as a hybrid fronting carrier, Concert continues to develop differentiated innovative solutions for the top tier reinsurers with whom we partner.”

Scamborova joins from Swiss Re, where she served as Managing Director. Prior to that, she held senior executive roles at AIG in the General Insurance business segment, as well as positions at McKinsey & Company, Hudson Insurance Group, and OdysseyRe.

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