Florida’s insurer of last resort — Citizens Property Insurance — has selected former Zurich Insurance executive Barry Gilway as a replacement for outgoing Citizens leader Scott Wallace, according to published reports.
Gilway, who currently is president and CEO of Baltimore-based loss and claims control firm Mattei Insurance Services, was picked over current California Earthquake Authority CEO Glenn Pomeroy and interim president Tom Grady for the top spot, according to an article in the Miami Herald.
The appointment was made after a board meeting Wednesday.
Prior to joining Mattei, Gilway was an investment banker with Mystical Capital Advisers. Prior to that, Gilway was executive vice president for Zurich North America’s services division and CEO of Zurich North American Canada.
According to the Miami Herald, the Citizen’s board did not consider Grady as a possible finalist to replace Wallace.
Grady was a former commissioner of the Florida Office of Financial Regulation and took the reins at Citizens in April when Wallace resigned.
