Bolttech brings in AIG’s O’Malley as group CFO

Unicorn InsurTech platform Bolttech has appointed Romany O’Malley as group CFO, a UK-based role in which she will oversee the financial strategy for the group’s businesses in 26 markets across three continents.

The appointment marks a high-calibre hire for Bolttech following its Series A funding round in the summer, which, over two parts, notched up more than $200mn.

The deal marked the largest Series A round for an InsurTech company and valued the firm at more than $1bn, just a year after its launch in 2020. The business now operates the world’s largest insurance exchange, with $5bn in premium flowing through its platform.

With O’Malley joining from her current role as CFO of AIG in the UK and a member of the insurer’s UK board, the InsurTech is bringing in a finance leader with more than 20 years’ industry experience.

Prior to AIG, she worked as CFO for the Africa region at Chartis, and before that she held senior leadership positions at the Liberty Group in South Africa and Swiss Re in the UK, focusing on strategic finance, risk analytics and general management.

She will be joining the executive committee at Bolttech, reporting to group CEO Rob Schimek, and will start in February next year. She is succeeding Craig Merdian, who is retiring in early 2022.

Schimek said: “Having built broad business and financial management experience throughout her insurance career, Romaney’s depth and breadth of understanding of the industry is a perfect match for Bolttech to take our ambitious growth agenda to the next level.”

O’Malley said: “Our insurance industry is currently on the cusp of a digital revolution, and I am deeply inspired by what Bolttech is doing to transform the industry, coupled with the team’s deep insurance expertise to improve the way insurance is distributed in the future.”

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