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PAWTUCKET – Narragansett Bay Insurance Co. has hired Laura L. Colangelo as its new accounting director to oversee the company’s financial reporting process for investors, regulators and rating agencies.
Before joining the specialty insurer, Colangelo was assistant vice president of finance at Argo Group International Holdings Ltd. – formerly PXRE Group Ltd. – for 14 years, where she managed the quarterly closing and reporting processes. She also evaluated internal controls over the financial reporting process and the accounting systems.
Previously, Colangelo had worked as an audit manager at KPMG Peat Marwick LLP, where she performed audits for largely publicly traded corporations and medium-sized private companies in banking and insurance.
“Laura’s experience in assessing and building new accounting systems is essential to our organization, as our company continues to expand into new markets. Laura’s joining us is another example of our commitment to bring in the most talented professionals in the insurance industry,” said Sean Murphy, CFO for Narragansett Bay Insurance Company.
A graduate of Siena College with a bachelor’s of business administration degree in accounting, Colangelo also received a certification in public accounting in New York.
In recent months, Narragansett Bay Insurance has hired several senior-level employees, and has moved to expand its coastal home insurance business along the East Coast.
Narragansett Bay Insurance Co. – along with the Pawtucket Insurance Co., founded in 1848 as Pawtucket Mutual Fire Insurance Co. – is a member of the Pawtucket Insurance Group, a subsidiary of Blackstone Financial Group Inc. NBIC is a provider of property insurance, risk-management and loss-prevention services to homeowners, tenants and landlords in Rhode Island, Massachusetts and New York. To learn more, visit www.NBIC.com.
