Christopher Gallo is transitioning from his role as managing director at CIC Services to launch Core Risk Solutions, an independent captive insurance consulting venture. The move concludes Gallo’s six-year tenure with the firm, where he specialised in regulatory substance, documentation and sustainable liquidity. Throughout his time at CIC Services, Gallo was instrumental in the formation of captives covering sophisticated and emerging risks, including carbon footprints, stranded assets and title insurance. Commenting on the transition, Gallo says: “I am very blessed for having the opportunity to work with CIC Services, as their problem-solving, corporate governance, ingenuity and integrity are second to none. It has been stated that success has many authors, as evidenced by being a part of forming state-of-the-art captives covering risks such as a carbon footprint, stranded asset and title insurance in addition to insuring third-party risks.” He adds: “I intend to utilise CIC Services as captive manager for all such future captive formations.” Gallo brings a deep regulatory background to his new venture, having spent 35 years within the State of Connecticut’s Financial Regulation Division before entering the private sector in 2019. During his regulatory career, he represented the Connecticut department on an international stage, including a rotation with the Swiss Financial Markets Supervisory Authority (FINMA) in Bern and high-level discussions with the Dutch National Bank. In 2013, Gallo was a founding member of Connecticut’s Captive Division. In this role, he was responsible for devising risk-based captive legislation and constructing the division’s examination processes. He also oversaw the National Association of Insurance Commissioners (NAIC) accreditation reviews and annual interim reviews. Bryan Ridgway, principal and chief operating officer at CIC Services, notes: “The perspective Chris brought from his regulatory career has been valuable to our team and our clients. CIC Services was built on a foundation of regulatory discipline, documentation and sustainable liquidity, and Chris’s experience aligned well with those principles.” Ridgway concludes: “We remain focused on delivering properly structured captive programmes for our clients and wish him continued success as he begins this next chapter.”
