Rudy A. Dimmling, Managing Director
Rudy Dimmling’s career spans over 25 years in the financial services industry, with the last 20 years in insurance. He has vast finance, operations and restructuring experience in property and casualty, life insurance, reinsurance, credit and structured finance. His broad turnaround experience as an insurance executive is demonstrated by his ability to provide significant operating returns to on-going and distressed organizations alike.
Rudy was formerly Senior Vice President and Chief Administrative Officer of Centre Group Holdings, LLC, a wholly owned subsidiary of Zurich Financial Services. As CAO, he managed the claims, actuarial, risk, investment management and IT functions.
Prior to his CAO role, Rudy was a member of Centre’s restructuring group that was responsible for developing and implementing commutation and exit strategies of Centre’s finite reinsurance and financial guarantee portfolios in Bermuda and New York. He was a key member of Centre’s executive team that produced $500 million in operating profit in two years after it was put into runoff in 2003.
His commutation and restructuring experience includes negotiating a complex legal settlement with a state insurance department, restructuring a Japanese consumer finance surety bond, commuting a number of complex reinsurance transactions, turnaround and subsequent sale of a regional nursing home chain to private investors, and developing and implementing two NYS regulation 141 restructurings of a Centre reinsurance subsidiary.
Earlier in his career, Rudy was Vice President of Finance, Corporate Development and Treasurer for Risk Enterprise Management and the Home Insurance Company. REM was a former wholly owned subsidiary of ZFS responsible for the orderly runoff of Home’s operations. As part of Home’s commutation and exit strategy, he created a comprehensive economic model of Home’s reinsurance structure with ZFS. He also managed Home’s $70 million private equity portfolio and successfully restructured a private manufacturing subsidiary.
In 2008, as a sub-contractor for a world-wide consulting firm, he provided regulatory, operational and strategic advice for a distressed Bermuda based life reinsurer. In this role, he developed detailed cash flow models of four regulated subsidiaries, remodeled a complex securitization transaction, developed a long-term operating structure under a runoff scenario and provided a value opinion to senior management of a liquidation scenario.
Respected for his expertise in strategic planning and forecasting, Rudy has served on the board of directors of a major investment bank, catastrophic health care company, and affiliated reinsurance companies, and provided critical expertise as a member of various senior management committees.
Education - Rudy received his MBA and BBA degrees from Adelphi University.
Memberships/Associations – Rudy is a member of the Turnaround Management Association and the Insurance Federation of New York. He is also a Certified Insolvency and Restructuring Advisor.
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