Denali Specialty hires Krutek to head brokerage operations

Start-up MGA and wholesale brokerage platform Denali Specialty Group has hired former RPS executive Paul Krutek as president of its brokerage operations, The Insurer can reveal.

The hire is the latest as the Michael Eichhorn-founded firm builds out its platform to include a wide variety of MGA and brokerage offerings, including a newly inked agreement with an A XV rated carrier that provides Denali with delegated underwriting authority.

The new delegated authority covers several products including investor schedule-REO business and Midwest-based short-tail property and quake.

Krutek recently resigned from RPS as area senior vice president for workers compensation, to take his new position with St Louis, Missouri-based Denali.

He had joined AJ Gallagher’s wholesale arm RPS in 2018, charged with helping to build out the workers compensation practice on the West Coast, making the move from Missouri to California.

The executive’s move reunites him with Denali’s CEO Eichhorn and the president of its delegated authority practice Kerri Senger.

The three were colleagues at WR Berkley-owned Breckenridge Insurance Services (BIS), where Eichhorn was president and Senger regional vice president.

Krutek joined BIS – formerly International Placement Services – in 2002 to manage captives and alternative risk placements, as well as primary and excess workers compensation. He was eventually promoted to regional vice president, leading the firm’s St Louis office.

Eichhorn told this publication that Krutek will work closely with him and Senger in building out the Denali platform, focusing on the brokerage platform, as it expands areas like casualty, excess liability and professional liability – as well as establishing his own workers compensation practice.

“Paul is an experienced broker with more than 35 years in the insurance industry and has a proven track record of success, specializing in excess workers compensation, guaranteed cost WC, and large deductible programs,” said Eichhorn. “He is well respected and a leader in the marketplace.”

Brokerage buildout

Eichhorn said that in addition to building a workers compensation book, Krutek has been tasked with providing strategic planning and operational oversight of the firm’s brokerage capabilities, including its casualty and professional liability offerings.

Senger added: “Paul and I worked closely together during our tenure with Breckenridge. I’m excited he’s joined Denali and I’m looking forward to the three of us mapping out Denali’s future. Paul brings a wealth of knowledge and experience to the table and I feel this solidifies our future success.

Before joining BIS, Krutek co-founded Stonegate Risk Services, which specialized in alternative risk placements.

He began his career at AJ Gallagher and has also spent time at Aon.

Eichhorn launched privately owned Denali Specialty last year in a move first revealed by this publication.

“Our vision is to remain independent; our mission is to never forget where we came from, and our focus is to continue to deliver exceptional service by being the best at what we do,” he said.

The firm has been building out a platform that includes an MGA geared to small to middle market exposures, MGU capabilities for exclusive programs, and a wholesale brokerage that will look to provide coverage solutions for unique exposures and non-commodity business.

According to its marketing material, Denali leads with delegated authorities, supported by relationship-based wholesale brokerage capabilities operating under a single brand.