Press Releases
GOV. MALLOY SELECTS THOMAS B. LEONARDI TO HEAD
DEPARTMENT OF INSURANCE
(HARTFORD, CT) - Governor Dannel P. Malloy today announced the appointment of Thomas B. Leonardi to serve as the new commissioner of the state Department of Insurance. Currently, Leonardi is Chairman and CEO of Northington Partners, Inc, an insurance specialty venture capital and investment banking firm founded in 1989 and based in Avon, Connecticut.
"It is important to have someone in this position who can strike the appropriate balance between consumer protection and business development," said Governor Malloy. "We all know that the rising cost of health care is linked to our state's ability to attract and keep jobs, and I'm confident that Tom's membership on several boards, providing management and financial guidance, coupled with his commitment to giving back to his community through time spent working to secure coverage for the employees of a number of small, not-for-profit organizations will be a benefit to our state. In addition, Tom has significant business development experience, and I'll be looking to him to help find new and innovative ways in which we can grow the insurance sector in our state."
"I look forward to working with the governor's talented team and the hard-working and dedicated employees in the Insurance Department to protect consumers and grow Connecticut's insurance industry," said Leonardi. "This requires a balanced approach which includes efficient and timely responses to consumer complaints, making sure that products are clearly marketed and suitable for those people to whom they are sold, and, importantly, making sure that insurers in Connecticut are financially sound and able to pay policyholders' claims as they come due. We can all appreciate the importance of the insurance industry as an economic force in our state. There are more than 65,000 people who work in the insurance industry in Connecticut, and that number is down by almost 25% over the past 20 years. The insurance industry has been such a key part of the fabric of our economy and our state for over 150 years. We need to reverse this decline and bring new insurance jobs to Connecticut. Connecticut's families need affordable and reliable insurance coverage and they need good jobs. My goal as Insurance Commissioner will be to do everything within my power to make sure they get both."
While at Northington Partners, Leonardi has provided strategic, investment, capital raising, and financial advisory services to a number of insurance companies. In addition, Leonardi has advised managements and boards of directors of companies specializing in property casualty reinsurance, workers compensation, alternative risk reinsurance, and medical malpractice insurance, among other issues. Prior to his tenure at Northington, Leonardi was responsible for mergers and acquisitions and venture capital activities at Conning & Company where he was Senior Vice President. In 1984, Leonardi was the President and Vice Chairman of the Beneficial Corporation's insurance subsidies.
Over the last twenty years, Leonardi has committed to giving back to his community, serving on a number of boards, and working with not-for-profit organizations to help them procure benefits for their employees and insurance coverage for the organizations, giving him first-hand experience in dealing with the difficult issues of access to affordable health care, life and disability insurance.
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For Immediate Release: February 4, 2011
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