Experienced C-Suite leader will spearhead the Group’s vision to revolutionise the M&A and specialty insurance marketplace
SINGAPORE, 1 June 2023: Pop Group Holdings (“POP”), a leading investor in M&A and specialist, data & technology-enabled insurance businesses, today announces the appointment of Sergei Korol as Chief Operations & Finance Officer.
Based in Singapore, Korol will be responsible for the delivery of best-in-class services, both internal to its operating companies and external to its ecosystem partners, and in support of POP’s purpose to build the leading global boutique M&A and specialty insurance group, enabled by data and technology. He will work closely with partners and associates across the Group’s operating brands including specialist M&A and financial lines MGA Fusion Specialty, and dedicated specialty InsurTech and M&A Tech platform io.insure, to drive profitability and revenue globally.
Korol brings with him over two decades of experience in the financial services and insurance industry. Most recently he was Managing Director at Grab Financial Group, where he led the creation of the company’s first financial segment team for its fintech division. Prior to that, he was CFO/COO at ACR Capital Holdings, where he was a key change agent in the company’s transformation, directing finance, IT and operational functions for the US$600 million premium pan-Asian group. In this role he also led the investor exit.
This key appointment follows POP’s recent landmark announcement of its first external strategic minority investment from private equity fund Direct Capital, as the Group continues to expand rapidly and build a strong client base worldwide. In his role, Korol will also manage POP’s future fundraising plans and capital structure, as well as support the Group in any external investor projects and strategic ventures, to propel POP in its next stage of accelerated growth.
Announcing Korol’s appointment, Killian McDermott, co-founder and co-CEO of POP said: “We are delighted to have Sergei join the POP team, as we continue to build on the strong growth momentum we have achieved over the past years, and to deliver on our promises in the markets we operate in. With Sergei’s expertise in leading finance and operations functions, we are confident that we can further build efficiencies across Fusion and io.insure, that drive top quality services with high-impact results that will benefit our ecosystem partners, including customers, brokers, advisors and insurers.”
David Rogers, co-founder and co-CEO of POP added: “Sergei joins us at an exciting, opportune time, as we continue to grow our global footprint to deliver industry leading M&A tech and InsurTech solutions to key markets across Asia Pacific, US, the UK and Europe. With his guidance, we will build greater synergies across borders and teams, and fulfil our promise of being an organisation with real purpose and sustainability, differentiated by our expert people and cutting-edge innovations.”
A highly regarded veteran in the insurance space, Korol has also helmed senior roles at global insurance firms including Chubb, MetLife, and AIG.
“I am excited to be going back to my native industry and to have the opportunity to help Killian and David build and expand their pioneering company. Having grown up in insurance, and more recently ventured into the tech world, I believe that technology driven modernisation is the key to the industry’s continued relevance and that is best driven by those who know the industry well. In this respect, POP has a unique track record of bringing together insurance capabilities and emerging technology driven ideas,” said Korol.
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About POP Group Holdings
POP Group Holdings is an owner of / investor in M&A and specialist, data & technology-enabled insurance businesses. POP is building a unique specialist insurance ecosystem that transforms the insurance experience for customers, through partnerships, products, services and technology.
About Fusion Specialty
Established in 2018, Fusion Specialty is the leading specialist underwriting agency (MGA) focussed on providing innovative, tech-driven and sustainable insurance solutions, primarily to the small and medium-sized business market. Fusion has underwritten more SME deals than any other insurer across the APAC region since 2019. Backed by large global insurance partners, Fusion has rapidly expanded globally with offices in Australia, Singapore, Hong Kong, the UK, Germany, Spain and the USA. Fusion Specialty is the first M&A insurance MGA with a local presence in each key M&A market, globally; and through its partnership with io.insure, the first to deliver tech-driven M&A insurance products.
io.insure is the first global M&A and specialty insurance online marketplace, transforming the insurance experience and filling the risk protection gap in the small to mid-sized business segment. The io.insure marketplace connects customers, advisors, distributors and insurer partners, supported by an exchange comprised of expert people, personalized products, and a data and technology platform, which is designed for white-labelling by partners.