Balavant Insurance Group appoints new CFO and COO

Balavant Insurance Group has appointed Michael Sothen as chief financial officer (CFO) and Omeed Kazemi as chief operating officer (COO) following the recent spin-out of Tangram Insurance Services.

Tangram recently completed its spin-out from Heffernan Insurance Brokers.

This move positions Tangram as the inaugural portfolio company under the newly established Balavant Insurance Group, a holding entity backed by investment from SkyKnight Capital.

Sothen brings more than 25 years of experience to his new role as CFO, where he will manage Balavant's internal controls, financial reporting and finance-related operations including acquisitions.

His background includes senior financial positions at Brown & Brown and Arrowhead.

Kazemi steps into the role of COO with a background at the nexus of technology, insurance and financial services.

His previous experience at Hippo Insurance involved leading business operations and strategic revenue initiatives.

At Balavant, he will focus on strategic growth, mergers and acquisitions, and operational excellence.

Tangram and Balavant president and CEO Rekha Skantharaja said: "Michael and Omeed bring exceptional expertise and proven success in building scalable platforms. Their arrival marks another exciting step forward in our vision to build a $1bn, people-first MGA [managing general agent] platform where entrepreneurial teams can thrive."

The company, which operates as an MGA platform, also recently named Tracy Bernard as chief programme officer. Bernard will oversee product development and underwriting strategy across Balavant's subsidiaries including Tangram and future entities within the group.

Tangram promoted Krissy Kyjovsky to executive vice-president, acknowledging her progression from an underwriting assistant to a key leader within the company.

Kyjovsky's new responsibilities include managing underwriting, operations, sales and agency functions.

"Balavant Insurance Group appoints new CFO and COO " was originally created and published by Life Insurance International, a GlobalData owned brand.

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