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# Reinsurance, “Takeout” Execs Vie to Become Florida’s Top Insurance Regulator
- URL: https://www.riskmarketnews.com/reinsurance-takeout-execs-vie-to-become-floridas-top-insurance-regulator/
- Published: 2016-02-22T05:50:11.000Z
- Updated: 2016-02-22T05:50:11.000Z
- Author: Chris Westfall
- Tags: florida, regulation, Markets

Two reinsurance executives — and a leader of a recently created “takeout” insurer — have placed their names into the process to replace outgoing Florida Insurance Commissioner **Kevin McCarty**.

**Richard McCarty** — listed as the former senior vice president and general counsel of **XL America** — applied to become Florida’s top insurance regulator, according to state records. In addition **Arnold Braun**, associate general counsel at **Everest Reinsurance**, is also participating in the application process, according to documents.

Also listed as having applied is **Wayne Fletcher**, currently vice president of underwriting of **G&G Holdings Group**. That company is owner of **G&G Property and Casualty Insurance Company**, a local insurer participating in the “takeout” program instituted by the state-backed **Citizens Property Insurance Corporation** that has transferred thousands of policies into the private market.

A total of 33 applicants have placed their names for consideration to become Florida Insurance Commissioner following the resignation of Kevin McCarty in January. The group includes everyone from **Jeffrey Bragg**, the former executive director of the federal Terrorism Risk Insurance Program to several insurance brokers, a bail bondsman and a parole officer.

The application process is open until March 11.