Lee Covington, current president and chief executive officer The Surety & Fidelity Association of America (SFAA), has been named president-elect of the Reinsurance Association of America (RAA), a trade association of property and casualty reinsurers.

Covington succeeds Frank Nutter, who will retire effective Dec. 31, 2023, after 32 years as President of the Association.

Covington, who has led the SFAA since 2018, will assume his role at RAA role on Jan. 1, 2024. Before taking the helm of SFAA, he was Senior Vice President, Government Affairs and General Counsel of the Insured Retirement Institute. He has also held positions at Squire Patton Boggs, PwC, Director of the Ohio Department of Insurance, and Deputy Director of the Arkansas Insurance Department.

In a media statement, Justin O’Keefe, chair of the RAA’s board of directors recognized Nutter’s four decades of service at the RAA, saying that he grew the association into “the leading voice for the reinsurance industry in the United States” over the course of his tenure. “Guided by Frank’s leadership, integrity, and vision, the RAA team has addressed some of our industry’s most complex issues at both a federal and state level.”

Separately, this week, the RAA published a white paper with recommendations for changes to California’s insurance code which would alleviate a growing crisis in the state.

Related article: California Crisis Fixes: RAA Recommends Insurance Code Changes

O’Keefe also highlighted the deep expertise that Covington has from an extensive career in insurance industry advocacy and regulation.

Source: The Reinsurance Association of America