RAA president Nutter to be succeeded by SFAA’s Covington at year-end

Frank Nutter will retire at the end of the year after 32 years as president of the Reinsurance Association of America (RAA), and will be succeeded by Lee Covington, current president and CEO of The Surety & Fidelity Association of America (SFAA).

The RAA said that Nutter’s leadership has helped the association address some of the industry’s most complex issues at both a federal and state level.

“Over the last four decades, Frank has grown the RAA into the leading voice for the reinsurance industry in the United States,” said Justin O’Keefe, chair of the RAA’s board of directors.

RAA president-elect Covington has led the SFAA since 2018. Prior to that, he was senior vice president, government affairs and general counsel of the Insured Retirement Institute.

He has also held positions at Squire Patton Boggs and PwC, and has served as the director of the Ohio Department of Insurance and deputy director of the Arkansas Insurance Department.

O’Keefe said that Covington’s “deep expertise and extensive career in insurance industry advocacy and regulation will be invaluable to the RAA”.

The RAA earlier this week released a white paper that provides recommendations to address the wildfire-related crisis impacting California’s homeowners insurance market. The association also expressed concern over legislation being discussed by the state’s lawmakers.