Sapnar

Mike Sapnar, former CEO of TransRe, to join NYDIG as Global Head of Insurance Solutions, creating bitcoin-powered products and services for the $6 trillion/year global insurance industry. NEW YORK, NEW YORK – April 8, 2021 – NYDIG also announced that Mike Sapnar, CEO of TransRe, one of the world’s largest reinsurers, would be joining as Global Head of Insurance Solutions. While overseeing all of NYDIG’s insurance activities, Mike will focus on accelerating bitcoin-driven innovation in the global property and casualty (P&C) industry. Mike is joined by Matt Carey, NYDIG’s U.S. Head of Insurance Solutions, who will be focused on bitcoin-powered solutions for U.S.-based life insurance and annuity providers. Prior to joining NYDIG, Matt was co-founder and CEO of Blueprint Income, the largest online annuity marketplace in the U.S., recently acquired by MassMutual from Stone Ridge. Robert Gutmann, co-founder and CEO of NYDIG, said, “The global property & casualty (P&C) industry is huge, paying out over $1 trillion in claims annually. I am excited to welcome Starr and Liberty Mutual to NYDIG, as part of our expansion of bitcoin into new areas of insurance.” Robert continued, “The team and I are also thrilled to welcome Mike and Matt to NYDIG. Mike has been a close collaborator with Stone Ridge since 2014, primarily with our catastrophe reinsurance asset management franchise and our non-catastrophe reinsurer, Longtail Re. Mike’s more than 30 years of experience will help NYDIG lead...

Stone Ridge working on crypto MGA start-up Proof Former TransRe CEO and current head of insurance solutions at Stone Ridge Asset Management Mike Sapnar is working on the launch of a de novo MGA that will provide conventional insurance products to cryptocurrency firms, and ultimately expand its product offering beyond that, The Insurer can reveal.

TransRe President and CEO Mike Sapnar is leaving the company to pursue another opportunity. He’ll stay on the job through April 30 to help with the transition. Ken Brandt, currently TransRe’s co-president of Global Underwriting, will succeed him. A member of TransRe’s senior leadership team since 2006, Brandt will also continue to serve on the company’s board of directors. Weston Hicks, president and CEO of TransRe parent Alleghany Corp., said Sapnar’s leadership has been transformational. “In early 2012, Alleghany had the good fortune to acquire TransRe and over the following nine years, TransRe produced $849 million of underwriting profits and a 97.5 combined ratio despite a multitude of significant catastrophes during this period. This strong record is due in no small part to the enormous contributions from [Sapnar], who is a terrific leader, an industry statesman, and an outstanding manager,” Hicks said in prepared remarks. Hicks said Sapnar’s leadership over the past 10 years (and 26 years with the company overall) has left TransRe in a strong position for the years to come. Brandt, at the same time, will help lead TransRe into the future, noted TransRe Chairman Joe Brandon in prepared remarks. Brandt “is an exceptional leader and a proven reinsurance executive with global experience who understands TransRe’s one-of-a-kind culture and the needs of our customers and brokers,” Brandon said. Brandt noted he’s been part of TransRe’s leadership team for 15 years. He said h...