Great Bay Insurance Group CEO Timothy J. Byrne Honored as Company Person of the Year

On August 22, 2025, the Great Bay Insurance Group proudly announced that its CEO, Timothy J. Byrne, Sr., has been awarded the title of Company Person of the Year by the Professional Insurance Agents of New Jersey (PIANJ) during their annual conference. This prestigious award is conferred upon individuals who foster robust relationships with agents and brokers, embodying a commitment to professionalism and exceptional service in the insurance industry.

The Great Bay Insurance Group, which became a renowned provider of coastal homeowners' insurance in New Jersey, has indeed made a mark with plans to expand its product offerings across various states. The company is particularly known for its approachable business model, swift and fair claims handling, and most importantly, for providing a stable marketplace for customers.

A Legacy in Insurance

Timothy J. Byrne has a storied career that spans over four decades, highlighting his extensive experience in various leadership roles within the insurance sector. A founding member of the Great Bay Insurance Group since its inception in 2019, Byrne's journey began at a young age. He started his career at just 14 years old, working summers at his father’s retail agency, which was founded by his grandfather in 1959. Over the summers, Byrne attended Wildwood High School, then Rutgers College, and later pursued a graduate degree in Insurance from what is now St. John's School of Risk Management, Insurance, and Actuarial Science.

Byrne joined the family agency full-time in June 1983 and recognized a significant gap in the market for coastal homeowners' insurance, which led him to establish Coastal Agents Alliance (CAA) in 2003. Under his leadership, CAA successfully placed over $50 million in homeowners' insurance lines across eight northeastern states. In 2015, he sold CAA to Gryphon investors, who merged it with Orchid Underwriters of Vero Beach, Florida.

After spending three years with Orchid Underwriters, Byrne went on to form the Great Bay Insurance Group in August 2019. His acceptance speech upon receiving the award reflected his passion for independent agents and underscored how crucial they have been to his success. He shared with the audience the numerous independent agencies he has visited over his career and emphasized their resilience in the face of industry challenges.

Resilience of Independent Agencies

In his remarks, Byrne noted, “Few can do what independent agencies can do.” He recounted the evolution of the insurance landscape from the challenges posed by captive agents in the 1970s to the complexities introduced by bank and insurance agency formations in the 1990s, and how independent agencies have adapted over the years. He recognized their ability not only to survive through crises, such as the housing market crash following Hurricane Andrew, but to thrive in challenging conditions.

Byrne's conviction in the potential of independent agencies serves as an inspiration to the insurance community. His accolades not only signify his personal achievements but also emphasize the importance of fostering strong agent relationships—a cornerstone of his career.

In closing, Timothy J. Byrne's recognition as Company Person of the Year is not just a reflection of his extraordinary career but also an affirmation of the impact strong leadership and dedicated service can have in shaping the future of the insurance industry. As Great Bay Insurance Group continues to grow, it remains committed to maintaining a solid partnership with independent agents, ensuring a prosperous and sustainable future for all stakeholders involved.