AmTrust ropes in new CFO from Assurant amid succession planning shake-up

Speciality property/casualty insurance group AmTrust Financial Services has named a new chief financial officer (CFO) and executive vice president of strategic development and mergers and acquisitions as part of the company’s succession planning process.

Daniel Pacicco, who comes from Assurant, will assume the position of executive vice president and CFO, overseeing the finance and accounting functions of the company. Pacicco will succeed Adam Karkowsky, who was promoted to AmTrust president in December 2019, and will report to Karkowsky.

Additionally, as part of the company’s succession planning, Zachary Wolf has been promoted to the role of EVP, strategic development and mergers and acquisitions, from his position as senior vice president, deputy CFO. Wolf will report to Karkowsky.

Pacicco’s appointment follows a comprehensive search process to identify a successor to Karkowsky. Pacicco will be based at AmTrust's New York City headquarters.

In his most recent role at Assurant, Pacicco served as senior vice president, chief accounting officer and controller since June 2017. He was responsible for managing the organisation’s overall accounting functions, including financial reporting, controls and operations. Prior to Assurant, Pacicco served as SVP, finance for the North American operations of Chubb, after holding many roles in over two decades with The Chubb Corporation. During his tenure with Chubb, he had oversight for accounting and finance management, financial systems and controls, risk management and treasury, as well as strategic planning and analysis, among other responsibilities.

Karkowsky said: “I welcome Dan to AmTrust as our new Chief Financial Officer. His extensive experience in the insurance industry in the areas of global financial reporting, accounting and compliance adds significant value to our organization. Dan will further enhance and support the transformative work we have undertaken.”

Pacicco commented: “I look forward to joining AmTrust’s leadership team and leading the finance organization to contribute to the Company’s success as it executes on its strategic plan to be a leading provider of niche property and casualty insurance and risk solutions globally.”