Specialty insurer Ategrity Specialty Insurance has appointed Neil Adler, chief financial officer of hedge fund manager Zimmer Financial Services, as its new finance chief following the departure of CFO Neelam Patel, according to a report by Business Insurance.
The appointment, disclosed in a filing with the US Securities and Exchange Commission, takes effect immediately. Adler will continue in his existing roles as CFO of Zimmer Financial Services and Zimmer Partners while also serving as Ategrity’s chief financial officer.
Zimmer Financial Services is the majority shareholder in the Scottsdale, Arizona-based excess and surplus lines insurer.
Ategrity said it had decided not to renew Patel’s employment agreement. She stepped down as CFO on 6 July but will remain employed by the company until 16 September. The insurer did not disclose the reason for the leadership change.
Adler brings extensive financial and accounting experience to the role. Before joining Zimmer Partners, he held a number of finance positions within the firm and previously worked as a tax consultant at Deloitte.
Patel joined Ategrity in September 2024 after serving as chief financial officer of Berkley One, a unit of WR Berkley. Earlier in her career, she spent 18 years at Chubb in a range of finance leadership roles.
Alongside the management announcement, Ategrity released preliminary second-quarter results indicating performance ahead of previous guidance.
The insurer expects to report gross written premiums exceeding $205m for the quarter, representing year-on-year growth of more than 22%. It also anticipates a combined ratio below 87% and diluted earnings per share of more than $0.60, comfortably ahead of the current analyst consensus of $0.47.
