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Narragansett Bay Insurance Company Names New President
Timothy Moura Named President of Narragansett Bay Insurance Company
PAWTUCKET, R.I. (February 14, 2018) — Timothy Moura has been named President of Narragansett Bay Insurance Company (“NBIC”) and will be responsible for directing the operations of the company and leading its strategic initiatives to drive continued profitable growth. NBIC is one of the largest coastal homeowners insurance carriers in the Northeast with approximately $330 million in total premiums, and is focused on providing valuable products and services to agents and customers in the markets it serves. Mr. Moura’s new role follows the recent announcement of the acquisition of NBIC by Heritage Insurance Holdings, Inc. (NYSE: HRTG) (“Heritage”). Together, the combined organization operates as a superregional property insurer with almost $1 billion in total premiums across twelve states.
Mr. Moura served as Senior Vice President of Marketing, Agency, and Client Services for NBIC since 2014. He was responsible for developing and overseeing the company’s strategic growth initiatives that have contributed toNBIC’s success and growing market share in the Northeast over the past four years. He has over 20 years of insurance industry experience, having served in senior management positions with Tower Group Companies, OneBeacon Insurance Group, and MetLife Auto & Home. Mr. Moura earned his MBA from Bryant University and his BA from Clark University.
“Tim has the energy, enthusiasm, and expertise to lead the organization going forward and I am confident that under his leadership, NBIC will continue to build on its past success,” stated Todd Hart, CEO of NBIC. Bruce Lucas, Chairman and CEO of Heritage, added, “NBIC has established itself as a market leader in the Northeast and I am excited to have Tim serve as NBIC’s President. I look forward to working with him, his management team, and our agency partners to grow and expand NBIC’s business, while delivering value to our agents and policyholders.”
About Narragansett Bay Insurance Company (NBIC)
Narragansett Bay Insurance Company, a wholly-owned subsidiary of Heritage Insurance Holdings, Inc. offers specialty insurance services and products to homeowners through an extensive network of independent agents along the Eastern Seaboard.
Heritage Insurance Holdings, Inc. is a property and casualty insurance holding company headquartered in Clearwater, Florida. Its subsidiaries, Heritage Property & Casualty Insurance Company, Zephyr Insurance Company and NBIC Holdings, Inc., write personal and commercial residential premium through a large network of experienced agents in Florida, Hawaii, North Carolina, South Carolina, Georgia and Alabama, and also in Connecticut, Massachusetts, New Jersey, New York and Rhode Island with the recent acquisition of Narragansett Bay Insurance Company, headquartered in Rhode Island. Heritage Insurance Holdings, Inc. is led by a seasoned senior management team with an average of 30 years of insurance industry experience.