Great Bay Insurance Group Publicizes Key Executive Changes for Future Success

Great Bay Insurance Group Announces Executive Changes

WEST ATLANTIC CITY, N.J. — In a significant move aimed at strengthening its leadership team, Great Bay Insurance Group, a prominent provider of homeowners' insurance in coastal New Jersey, has announced updates to its executive structure. The company has appointed Timothy J. Byrne, Jr., as the new President of the Group and Ronald R. Lovatt, as the President of Great Bay Insurance Company, a wholly owned subsidiary of the Group.

Timothy J. Byrne, Jr. brings nearly 15 years of experience within the insurance industry to his new role, having previously served as the Group's Chief Operating Officer. His extensive background empowers him to oversee crucial operations and underwriting strategies, ensuring that the Group remains at the forefront of the industry.

Ronald R. Lovatt is not new to the organization; he has been instrumental since its inception. With 40 years of diverse insurance experience in various leadership roles across national and international companies, Lovatt has a wealth of knowledge to draw upon as he ascends to his new position. Together, Byrne and Lovatt will continue to guide Great Bay Insurance Group towards several strategic goals.

Timothy J. Byrne, Sr., the Chief Executive Officer of the Group, expressed his enthusiasm about these changes, saying, "We are thrilled to announce the promotions of Tim Jr. and Ron. Their leadership has been vital to our success since the company's establishment in 2019."

In his expressed vision, Timothy J. Byrne, Jr. will oversee all corporate support functions while continuing to report directly to his father, Timothy J. Byrne, Sr. His educational qualifications include a Bachelor of Science in Economics and Mathematics from the University of Vermont, as well as an MBA in Risk Management and Insurance from St. John's University, complemented by holding a CPCU designation.

On the other hand, Ronald R. Lovatt, in addition to his experience, has been a founding member of the Great Bay Insurance Group, playing a pivotal role as Chief Underwriting Officer and Chief Claims Officer. He holds an MBA from The Wharton School at the University of Pennsylvania and a Bachelor of Science degree in Economics, Finance, Accounting, and Marketing from Miami University.

The Group's impressive trajectory, initiated since its founding in late 2019, indicates a commitment to innovation and excellence in coastal homeowners' insurance. The leadership change is expected to spur growth and enhance the corporation's operational effectiveness in the highly competitive insurance landscape.

With the demand for homeowners' insurance, especially in coastal areas, the leadership strategy of Great Bay Insurance Group aims to reinforce its position as an industry leader while ensuring customer satisfaction and sustainability in its services.

In terms of contact for further investor relations inquiries, Brian Schleider, CPA and Chief Financial Officer of the Group can be reached at 609-434-2000, x102.

About Great Bay Insurance Group
As a trusted name in coastal homeowners’ insurance, Great Bay Insurance Group has cemented its reputation with a strong commitment to serving its clients and community since its founding in 2019. Under the leadership of its dedicated team, the Group continuously aims to innovate and improve its service offerings.