Shaker Youssef - Executive Vice President
Mr. Youssef has been a banking and insurance professional for almost 30 years, with experience that traverses all lines of insurance run-off business. Mr. Youssef was most recently Vice President of Special Assets for Florida Bank from 2009 to 2013. Mr. Youssef was responsible for all complex litigation, collections and settlement of troubled assets.
Prior to Florida Bank, Mr. Youssef was Chief Operating Officer of the White Mountains operating units including North American operations of Consolidated Insurance Group (“CIG”), which were sold to White Mountains in 1999. From 1985 to 1994, he was employed with Beneficial Insurance Group (“BIG”) and American Centennial Insurance Company (“ACIC”), starting as Vice President and eventually being appointed Chief Executive Officer and director.
Mr. Youssef was part of the management team that assumed control of ACIC’s run-off operations (under the newly formed holding company, CIG). While at ACIC Mr. Youssef pioneered the process of seeking and executing commutations of direct excess exposures with insureds, and in the process reduced liabilities from more than $2 billion to less than $20 million while realizing hundreds of millions in collections through commutations with active, inactive and liquidated companies.