Orchid Underwriters Agency LLC, a TowerBrook Capital Partners portfolio company, said March 20 that John L. Lumelleau has joined as chairman. Lumelleau succeeds Steve Carlsen who will remain on the board and will lead a newly created underwriting committee. Lumelleau previously served as the CEO of Lockton Cos.
VERO BEACH, Fla.–(BUSINESS WIRE)–Orchid Underwriters Agency, LLC (“Orchid Insurance”), a leading specialty underwriter of catastrophe exposed property insurance, announced today that John L. Lumelleau has joined Orchid as Chairman of the Board. Mr. Lumelleau succeeds Steve Carlsen, who held the Chairman position for the last two years and has served on the Board since 2014. Steve Carlsen will remain on the Board and will lead a newly created Underwriting Committee.
As Chairman, Mr. Lumelleau will work closely with Orchid’s President and CEO, Brad Emmons, along with its partner, TowerBrook Capital Partners, in leading the continued evolution of Orchid’s strategic vision. The focus will be on leading the organization’s continued profitable growth, talent acquisition, M&A opportunities and Orchid’s overall expansion.
Mr. Lumelleau also joins TowerBrook Capital Partners’ Management Advisory Board, where he will help the firm explore and develop investment opportunities across the financial services sector in the U.S. and Europe. Previously, Lumelleau served as the CEO of Lockton Companies, Inc. for 17 years. During that time, the company expanded dramatically around the globe and became the largest privately held independent insurance broker in the world.
“We are excited to benefit from John’s leadership on the Board of Directors,” said Brad Emmons, President and Chief Executive Officer of Orchid Insurance. “His vast wealth of experience in a transformative growth environment will serve us well. Additionally, I would also like to thank Steve Carlsen for his leadership over the past four years, and I very much look forward to continuing to work alongside him in his new role.”
Founded in 1998 and based in Vero Beach, FL, Orchid (orchidinsurance.com) specializes in providing specialty insurance products for homeowners and small businesses throughout the United States and the Caribbean. The company’s variety of product offering provides customers with a single, comprehensive solution for both personal and commercial property insurance, including Wind and Wind-Only, General and Excess Flood, Earthquake, Builder’s Risk and others. Orchid aims to be agents’ First Choice by offering superior process, policy and pricing options, high quality system technologies, expertise in the E&S market with coastally-exposed risks, and extensive knowledge of coastal CAT-exposed market areas in the East and Gulf Coast states. Orchid only represents well-known A.M. Best Rated carriers.
TowerBrook Capital Partners L.P. is an international investment management firm with over $12.4 billion under management. The firm is based in New York and London and focuses on making investments in North American and European companies through private equity and structured opportunities strategies, allowing it to access a range of opportunities throughout the cycle. TowerBrook’s private equity strategy primarily pursues control-oriented investments in large and mid-market companies, principally on a proprietary basis and often in situations characterized by complexity. TowerBrook’s structured opportunities strategy leverages the firm’s expertise to invest in opportunities that fall outside the investment parameters of its private equity strategy, including structured equity and structured assets. Further information is available at www.towerbrook.com.
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