Alliant appoints new EVP for specialty lending practice

Alliant appoints new EVP for specialty lending practice | Insurance Business America

Insurance News

Alliant appoints new EVP for specialty lending practice

He will lead the division, which recently launched in March

Insurance News

By
Kenneth Araullo

Alliant Insurance Services has announced the appointment of Michael R Smith (pictured above) as executive vice president at Alliant Specialty, focusing on the financial institutions industry vertical.

Smith brings extensive experience in assessing and managing the risks associated with large loan portfolios, particularly in originating and servicing them. In his new role, he will helm Alliant’s national specialty lending brokerage practice, which was recently launched.

With over 20 years in mortgage banking and more than 15 years in the insurance sector, Smith specializes in creating tailored insurance solutions that integrate with corporate insurance programs.

These solutions often include comprehensive risk management strategies that address various coverage needs such as corporate insurance, employee benefits, lender-placed insurance, real estate owned (REO), and mortgage impairment.

Prior to joining Alliant, Smith served at Lockton Companies, where he was a senior vice president. During his tenure from May 2022 to April 2024, he was based in Dallas, Texas. His responsibilities included developing insurance and risk management solutions for financial institutions, with a focus on properties and casualty, health and welfare, and specialized insurance needs for mortgage lenders.

His earlier roles in Lockton include vice president and AVP/producer, where he developed his expertise in handling lender-placed insurance, REO, and property insurance specifically tailored for the financial sector.

Before his stint in insurance, Smith was a senior loan consultant at Bank of America in Plano, Texas, from August 2005 to May 2008, where he gained significant lending experience.

Ron Borys, managing director at Alliant Specialty within Alliant Financial Institutions, highlighted Smith’s capabilities as the newest addition to the firm.

“Michael is adept at forging dynamic, customized lender-placed insurance solutions and risk management strategies across the enterprise. Alliant’s growing client base of lending institutions in specialized sectors will benefit from Michael’s expertise in serving this niche,” Borys said.

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