Concert Group launches reinsurance sidecar, names president

Fronting insurer Concert Group Holdings Inc. Wednesday announced the launch of the group’s wholly owned reinsurance sidecar Harmony Re Inc. and named Katarina Scamborova president.

Ms. Scamborova is based in New York, according to an email from a spokeswoman.

She reports to Concert CEO John Hendrickson, Concert said in a statement.

Ms. Scamborova was most recently a managing director with Swiss Re Corporate Solutions in New York.

Chief Underwriting Officer Joe Alberti said in the statement the new sidecar “provides the company with a second line of defense on portfolio and risk management,” together with added flexibility.

Concert previously launched surplus lines insurer Concert Specialty Insurance Co. in December 2021.