Narragansett Bay Insurance Company's Directors



Todd Hart
Todd C. Hart
Chief Executive Officer

As CEO, Todd leads Narragansett Bay’s senior leadership team, directing all company policies and operations to assure NBIC cost effectively grows its capability to select and manage risk as well as service agents and policyholders. He has over twenty years of experience in a variety of financial services leadership, investment management and analytical posts. Most recently, he served as CEO of the Swiss-based Glacier Group, where he led the company’s strategy reorganization and provided operational management in underwriting, claims and risk. Prior to that role, he managed insurance and catastrophic risk investments and trading at the Dallas-based hedge fund, HBK Capital Management (since 2003), and its related entities (since 2000). During that time, he chaired or served on the underwriting, compensation, investment and finance, risk management, accounts and audit committees of the boards of directors of a variety of HBK investments. Previously, he worked for nine years in New York City for JP Morgan & Co., where he identified and executed mergers and financing of Fortune 1000 clients. He received his MBA from Harvard Business School, and an AB in Economics from the University of North Carolina, where he was a Morehead Scholar. He was a Henry Luce Foundation Scholar at the Securities Exchange of Thailand.

Nick Steffey
Stewart H. Steffey, Jr.
Chairman & Founder

Nick, the founding shareholder of NBIC Holdings, Inc., has 35 years of insurance experience, including the successful start-up of Liberty International Holdings, Inc. (a subsidiary of the Liberty Mutual Group), serving as founder, president and CEO from 1993 to 1998. From 1998-2000 he served as CEO of GIO Australia, one of the top 25 publicly traded companies in Australia. Nick also worked for 15 years with CIGNA Corporation in various executive capacities and, before that, for 10 years with the Chubb Corporation. He has served on the boards of the Pawtucket Foundation, Memorial Hospital, the Pawtucket YMCA and the Isabella Stewart Gardner Museum. He currently serves as an Overseer on the Board of the USS Constitution Museum. He received his BBA from Pace University and MS-Finance from Rensselaer Polytechnic Institute.

Arnold L. Chavkin
Arnold L. Chavkin
Managing Director, Chief Investment Officer

Mr. Chavkin joined Pine Brook in February 2008 and is a managing director. He is also a member of the Investment Committee. Mr. Chavkin currently represents Pine Brook as a director of Comet Ridge Resources, LLC, GR Energy Services, NBIC Holdings, Inc. and Source Energy Partners, LP. Mr. Chavkin has over 34 years of financial and investment management experience, including 25 years of experience in the private equity industry. Prior to joining Pine Brook, Mr. Chavkin was with J.P. Morgan Partners, a multi-billion dollar private equity firm affiliated with JP Morgan Chase, for 17 years, serving as the chief investment officer from 2001 to 2006. His earlier responsibilities at J.P. Morgan Partners included building and overseeing the investment teams in the energy and media/telecommunications industries, and expanding the firm’s international presence in Europe, Asia and Latin America. Prior to joining J.P. Morgan Partners in 1990, Mr. Chavkin was one of the first members of Chemical Bank’s Merchant Banking Group and its Corporate Finance Group, specializing in mergers and acquisitions and private placements for the energy industry. Earlier in his career, he held positions at Freeport McMoRan, Gulf and Western Industries and Arthur Young & Company. Mr. Chavkin is a member of the Columbia Business School Board of Overseers. Mr. Chavkin holds a B.A. in Oriental Studies, an M.B.A. from Columbia University in Finance and Accounting and is a Certified Public Accountant.

Alex Fridlyand
Alex Fridlyand
Managing Director, Quantum Strategic Partners LP

Dr. Fridlyand joined Quantum Strategic Partners, a fund advised by Soros Fund Management LLC, in May of 2005. He currently represents Soros on the Board of Directors of various companies, including Zenium Data Centers, oil and gas exploration companies Stonegate Production, Common Resources, Elevation Resources and Source Energy; life reinsurer in Canada Aurigen Re and Syndicate Re, A.I. Syndicate Re A.I. is an insurance company domiciled in Puerto Rico that provides reinsurance-to-close to companies in Lloyd's market.

Dr. Fridlyand studied mathematics at Moscow Forest Technical Institute. In 1991, he came to the United States to study turbulence and chaos theory at the Georgia Institute of Technology, Daniel Guggenheim School of Aerospace Engineering and received his Ph.D. there in 1995. That same year Dr. Fridlyand founded an Internet infrastructure company that quickly merged with recently founded SoftAware Networks Inc. In 2000, SoftAware Networks Inc. was sold to Digital Island Inc., a publicly traded internet infrastructure company, which a year later was acquired by Cable and Wireless plc, a 150 year old publicly traded UK company. Dr. Fridlyand stayed on until late 2003 to lead M&A in the areas of Networking, Storage, Security, Computing, and Professional Services.

Dale S. Hammond
Dale S. Hammond
Past President and Chief Executive Officer, HomeWise Insurance Companies

Mr. Hammond is a veteran property casualty insurance executive whose expertise is in strategic and operational issues. He started his career in 1970 with Travelers Insurance Companies and led a multi-disciplinary team that developed the first computer-based automobile and homeowners quoting and policy issuing system. From 1996 to 1998, Mr. Hammond served as president and CEO of the First Floridian Insurance Co., achieving exceptional financial results while drastically reducing the firm’s catastrophe exposure. He then joined Kemper Auto and Home as head of the company’s personal lines unit and became president and CEO of the HomeWise Insurance Companies in 2005. While there, he established two insurance firms and a management company that focused on dislocated homeowners markets along the Atlantic and Gulf coasts. In three years, revenues grew to more than $200 million, and the company merged with the First Home Insurance Company in 2011. Mr. Hammond was a member of the Advocates for Highway and Auto Safety, an alliance of consumer, health and safety groups and insurance companies and agents working together to make America's roads safer; and the Insurance Institute for Business and Home Safety, an independent, nonprofit, scientific research and communications organization supported by the property insurance industry. The institute works to reduce the social and economic effects of natural disasters and other risks to residential and commercial property by advocating improved construction, maintenance and preparedness practices.

Scott Schaen
Scott Schaen
Principal, Financial Services Investment Team

Mr. Schaen joined Pine Brook in August 2010 and is a principal on the financial services investment team. Mr. Schaen currently represents Pine Brook as a director of Clear Blue Financial Holdings LLC, Green Bancorp, Inc., NBIC Holdings, Inc. and Tunbridge Partners LLC. Prior to joining Pine Brook, Mr. Schaen was with Lightyear Capital, a middle-market private equity investor in financial services, where he was a senior associate specializing in executing and monitoring investments in the financial services industry. Before joining Lightyear Capital in 2006, Mr. Schaen was an investment banking analyst in the Global Power Group at Citigroup. Mr. Schaen holds a B.B.A. from the University of Michigan’s Ross School of Business.

Srdjan Vukovic
Srdjan Vukovic
Principal – Private Equity, Quantum Strategic Partners

Mr. Vukovic is a Principal – Private Equity at Soros Fund Management LLC and joined the firm in August 2006. Previously, he was an investment banking analyst with Merrill Lynch & Co. from 2004 to 2006. Mr. Vukovic's directorships also include serving on the Board of Directors of Syndicate Re, A.I. and Aurigen Capital Limited and its subsidiaries. Mr. Vukovic holds a Bachelor of Science degree majoring in Finance and Actuarial Science, with a minor in Mathematics from New York University, Leonard N. Stern School of Business.

William I. Riker
In Memoriam of William I. Riker
Past President, RenaissanceRe Holdings, Ltd.

With our sincere admiration and thanks, we dedicate this website to the memory of William I. Riker, who was a member of the NBIC Board of Directors and a valued advisor to the NBIC management team. Mr. Riker passed away in May, 2010. Mr. Riker had a distinguished career in insurance including serving as the former President and Chief Underwriting Officer of RenaissanceRe Holdings, Ltd. In addition to serving as company president, Mr. Riker held the previous positions of Chief Operating Officer of RenaissanceRe and President and Chief Executive Officer of Glencoe Group Holdings Ltd., the Dallas-based segment of RenaissanceRe. Prior to joining RenaissanceRe, Mr. Riker was Vice President of Applied Insurance Research (AIR), Inc., and he also was a Senior Vice President for the New York based reinsurer, American Royal Re. Mr. Riker was a Chartered Property Casualty Underwriter, and he held a B.S.E. in Mechanical Engineering from Duke University.

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