NI Holdings Inc. has announced a leadership change as Seth Daggett has stepped down as president and CEO, effective immediately, to pursue other opportunities.
During his tenure, he was credited in strengthening the company's distribution partnerships, expanding the company's footprint in niche insurance markets, and driving operational efficiency initiatives that improved profitability. Daggett also served on the company’s board, playing a key role in shaping corporate strategy and positioning the firm for long-term stability.
The company's board has appointed Cindy Launer as his successor, effective October 10. Launer (pictured) previously served as interim CEO in the fall of 2024 and has been an independent non-executive director on NI Holdings' board since November 2019. She brings 18 years of experience in the insurance industry, including her tenure as chief operating officer of AIG's commercial insurance business.
Board chair Eric Aasmundstad said the decision reflects the board’s confidence in Launer’s ability to guide NI Holdings into its next phase. He highlighted her industry experience, steady leadership, and deep understanding of the business as key factors in her selection.
Meanwhile, Launer said she was honored to return as CEO and aims to build on NI Holdings’ strong foundation to deliver long-term value to stakeholders.
Daggett’s leadership coincided with a period of expansion for NI Holdings, marked by targeted acquisitions and enhanced digital capabilities that improved customer engagement and operational efficiency. He also focused on regulatory compliance and risk management, which helped the company navigate an increasingly complex insurance landscape.
Under his guidance, NI Holdings strengthened its presence in both the life and property & casualty markets, setting the stage for continued growth.
The leadership change comes as NI Holdings operates in a highly competitive insurance market, with US life and P&C insurers facing pressure from rising claims costs, evolving regulations, and growing demand for digital and customer-centric solutions.
Insurers like NI Holdings are emphasizing operational efficiency, risk management, and strategic growth to maintain profitability. Launer’s experience in global finance and operations positions her to steer the company through these challenges and capitalize on opportunities in the evolving insurance landscape, the company said.
