IMG Appoints Steve Paraboschi as Chief Executive Officer

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Aug 09, 2021, 16:00 ET

INDIANAPOLIS, Aug. 9, 2021 /PRNewswire/ -- International Medical Group® (IMG®), an industry-leading international medical insurance, global assistance, and travel insurance company, is pleased to announce that Steve Paraboschi has been appointed as Chief Executive Officer, effective immediately. In addition to his new role, Paraboschi will continue to serve as President of IMG.

Paraboschi succeeds Brian Barwick, who will remain engaged with the company as an Executive Advisor. "We are proud to recognize Steve for his hard work and dedication to IMG over the last several years," said Barwick. "Steve has been instrumental in steering IMG to adapt to the changing insurance environment while remaining committed to driving strategic growth. Steve's deep understanding of the international insurance and assistance industries together with his leadership skills make him the perfect person to lead IMG into the future."

Paraboschi joined IMG in 2017 as Executive Vice President, then was appointed President of IMG in January of 2020. With over 25 years of experience within the broad financial services industry, Paraboschi came to IMG from AXA Assistance USA, where he served as the Chief Executive Officer, managing the P&L, driving alignment to global strategies, and developing innovative product distribution models.

Prashanth Gangu, Chief Operating Officer and President of Insurance & Services of IMG parent company, SiriusPoint Ltd. ('SiriusPoint') said: "I am delighted to welcome Steve to the role of Chief Executive Officer of IMG. As an innovative, fast growing, tech-enabled MGA that holds wide competitive advantages, IMG is a core part of SiriusPoint's value proposition and a key element to our long-term success. I am excited about what Steve and his team can achieve, backed by SiriusPoint, and building on the superb job Brian has done to grow IMG into an international leader in the international medical insurance, global assistance, and travel insurance space. Steve brings a wealth of experience and with it a new chapter in IMG's evolving story."

"It's a tremendous honor to take on the role of CEO at IMG and I'm grateful to Brian and Prashanth for the trust and faith they have shown in me to lead the company forward," said Paraboschi. "During my tenure at IMG, we've generated significant momentum in the marketplace, and I look forward to accelerating this growth in the coming years with a continued focus on 'Being There' for our members, clients, producers, and employees."

About International Medical Group® (IMG®)

International Medical Group® (IMG®), a SiriusPoint company, is an award-winning global insurance benefits and assistance services company that has served millions of members worldwide since its founding in 1990. A leader in the industry, IMG offers a full line of international medical insurance products, as well as travel insurance plans, medical management services and 24/7 emergency medical and travel assistance. For more information, please visit www.imglobal.com.

About SiriusPoint

SiriusPoint Ltd. (SiriusPoint) is a top 20 global insurer and reinsurer providing solutions to clients and brokers in almost 150 countries. Bermuda-headquartered with offices around the world, we are listed on the New York Stock Exchange (SPNT). We write a global portfolio of Accident and Health, Specialty, Property and Runoff, combining data and creative thinking to underwrite risks with skill and discipline. With over $3 billion total capital, SiriusPoint's operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit www.siriuspt.com.

SiriusPoint Forward Looking Statement

We make statements in this report that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on behalf of SiriusPoint. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our reserves, fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations, trends in insured and paid losses, regulatory and legal uncertainties and other risk factors described in SiriusPoint's Quarterly Reports on Form 10-Q for the quarter ended March 31, 2021 and June 30, 2021. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other circumstances after the date of this report.

SOURCE International Medical Group (IMG)