MGU New Paradigm unveils executive vice president, Underwriting and Risk Capital

Matthew Grunewald has joined New Paradigm Underwriters, a specialist managing general underwriter (MGU) and insurtech platform, in the newly created role of executive vice president, Underwriting and Risk Capital.

Grunewald took up his post on January 1, 2020, having previously worked for Greenlight Re as deputy chief underwriting officer.

As EVP for Underwriting and Risk Capital at New paradigm, he is responsible for developing and underwriting parametric reinsurance and alternative risk transfer solutions. He will also lead on sourcing new capacity for the MGUs growing business, as well as maximising strategic business opportunities. As a member of the executive team Grunewald will also assist with the development and execution of the company’s overall strategy.

The firm’s co-founder and CEO Evan Glassman said: “New Paradigm experienced very significant growth in 2019 and we are forecasting and preparing for another year of significant growth in 2020 and beyond in many different countries and regions as well across multiple perils. Matt’s addition will give us expanded resources, and he will be focusing much of his efforts on developing additional reinsurance capacity to support our growth.”

Grunewald has more than a decade of experience working in the re/insurance which includes roles at Guy Carpenter’s Tampa Florida office. He holds a Bachelor of Science in Economics from the University of Saint Thomas in Saint Paul, Minnesota.

Grunewald said: “I am excited to be joining the New Paradigm team where they are innovating to close the protection gap and bringing new risks into the re/insurance market.

“I’ve known and followed the New Paradigm team since its inception and look forward to joining this fast-growing company. The catastrophic events of recent years have both highlighted the significance of the protection gap and how complex these events can be for underwriters. New Paradigm designs products that cover what others exclude for our protection buyers while avoiding the issues of reserve uncertainty, ballooning adjustment expenses and conflicts of interest for our risk bearing markets.”