NEW YORK – Legeis Capital, LLC, which provides insurance companies with efficient access to higher-returning assets, today announced the appointment of Michael Morrissey as Chairman of the company’s Board of Directors.
Morrissey is an accomplished insurance investment banker and fund manager and served as President and CEO of the International Insurance Society (IIS), the largest insurance industry association. He is a board member at Selective Insurance Group (NASDAQ: SIGI) and Protective Life Corp.
“We are pleased to have Mike lead our Board of Directors. He is a strategic business leader and accomplished director. His distinguished career of over 40 years leading global insurance firms and asset management businesses brings unique experience that will benefit Legeis Capital significantly, “ said Michael Siegel, Founder and Chief Executive Officer.
Morrissey led the IIS for more than 11 years. Under his management, the IIS became a founding supporting institution of the United Nations’ Principles for Sustainable Insurance, and the founding organization and Secretariat of the Insurance Development Forum, a public/private partnership led by the global insurance industry, the UN and the World Bank.
“Mike brings extensive insurance industry and asset management experience to our board. He will further strengthen our firm’s considerable talent and experience and we are confident in the contributions and value his leadership will bring to our company,” said Joseph Taussig, director, who has substantial expertise in building total return insurers and reinsurers where investment returns are significant enough to enhance underwriting performance.
Before joining IIS, Morrissey was Chairman, Chief Executive Officer, and Chief Investment Officer of Firemark Investments, where he invested in insurance companies worldwide. He has advised insurance company managements and regulators and served on a number of insurance company boards in North America, Europe, and Asia.
He was the global insurance industry representative on the Private Sector Taskforce on Regulatory Convergence in Financial Services, organized by the G-20. Morrissey was formerly President of Manhattan Life Insurance Company and Executive Vice President of Crum & Forster Insurance Group.
Morrissey is a member of the Board of Overseers of the St. John’s University School of Risk Management and a member of the Steering Committee of the World Economic Forum’s Mitigating Risk in the Innovation Economy initiative. He is an insurance working group member of the National Bureau of Economic Research, a special advisor to the Asia Pacific Financial Forum, and a member of the Board of Governors of the Asia Pacific Risk & Insurance Association
Morrissey holds a B.A. from Boston College and an M.B.A. from Dartmouth College and he graduated from the Harvard Business School’s Corporate Finance Management Program. Morrissey is also a CFA charterholder and former President of the Association of Insurance and Financial Analysts.