
Employee Profiles
Demotech’s leadership offers over 150 years of combined insurance experience. Our complementary backgrounds provide unparalleled insight into addressing the needs of those focused on the financial stability of insurers.

Joseph L. Petrelli
ACAS, ASA, MAAA (MBA) President

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ACAS, ASA, MAAA (MBA) President
Joe Petrelli is the President and Co-Founder of Demotech, specializing in evaluating the financial stability of regional and specialty insurers. A recognized expert in financial analysis and solvency management issues in the insurance industry, Joe has been dedicated to providing inclusive services that have served to “level the playing field” for the small to mid-sized Property & Casualty insurance companies and Title underwriters. His insight and innovation have resulted in many firsts within the industry, including a model for assigning Financial Stability Ratings® (FSRs) based on balance sheet strength and financial integrity, the development and utilization of a Management Audit Process well in advance of today’s emphasis on “enterprise risk management,” an ongoing analysis to evaluate assigned FSRs relative to insurer survival rates, and the development of a procedure to review and rate start-up insurance companies.
Joe leads an experienced and highly qualified team that reviews and issues FSRs with a proven track-record of assessing the long term solvency of insurers. He is a regular speaker and presenter at industry conferences on topics of risk management, compliance, regulatory reporting, and actuarial and financial analysis. Joe has a strong passion for education and professional development, actively supporting trade associations, contributing to industry journals, and is the driving force behind the recent formation of the Buckeye Actuarial Continuing Education, affiliate of the Casualty Actuarial Society. Joe is also a member of the Casualty Actuarial Society, the Society of Actuaries, and the American Academy of Actuaries.
Joe has been actively engaged in the Property & Casualty insurance industry since 1969, beginning his career at the Insurance Services Office (ISO), then holding positions at Agway Insurance Company and Nationwide Mutual Insurance Company, and as a consulting actuary prior to founding Demotech in 1985.
Joe holds a B.S. in Actuarial Science from the College of Insurance (St. John’s University) and an M.B.A. from The Ohio State University.

Sharon M. Romano Petrelli
CPCU, AIAF, ARC, CCP Vice President

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CPCU, AIAF, ARC, CCP Vice President
Sharon is the Vice President and Co-Founder of Demotech, specializing in evaluating the financial stability of regional and specialty insurers. Sharon has played a key role in developing Financial Stability Ratings® (FSRs) and also directs the administrative and financial operations of Demotech.
Sharon has been actively engaged in the Property & Casualty insurance industry since 1981. She has been a licensed Property and Casualty insurance agent in Louisiana, Michigan, New York, Ohio and Pennsylvania, and has also served as a director of a Property and Casualty insurance company. Sharon has extensive experience with loss cost filings, as well as product development and pricing for both the P&C and Title insurance industries.
From 1997 to 2000, Sharon served as a Director of the Association of Insurance Compliance Professional (AICP). She also served several terms as President of the Midwest Forum Chapter of the AICP. In 1999, she was the National Chair of the AICP Conference Planning Committee. Sharon received AICP’s President Award for outstanding service in 1999.
In 2000, Sharon was the recipient of the Insurance Institute of America’s award for Academic Excellence in the Associate in Regulation and Compliance Program.
Sharon was a member of the CPCU Society Board of Governors and served as a member of the Executive Committee for several years. Sharon served on the Board of the Columbus Chapter of CPCU and was the Columbus Chapter President (2004-2005).
Sharon holds an Associate of Applied Science in Accounting from Columbus State Community College

Barry J. Koestler II
CFA Chief Ratings Officer

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CFA Chief Ratings Officer
Barry Koestler directs the team, resources, and overall process of reviewing, rating, and issuing Financial Stability Ratings® (FSRs) for Property & Casualty (P&C) companies, Title underwriters, and other entities. Under Barry’s leadership, the value of the FSR as a leading indicator of financial stability and an objective baseline of the future solvency of an insurer has been enhanced, as Barry and his team have continued to refine its assessment capabilities and processes, while ensuring consistency and a value-adding experience for clients. In this regard, Barry spearheaded the development of Demotech’s “Company Classification System,” which categorizes all P&C insurers according to 11 categories. He is recognized for his expertise in financial statement analysis, and his customer-oriented approach has provided the basis for the ongoing validity and reliability of FSRs.
Barry joined Demotech in 1995 and, since 2003, has led the ratings process for the company. Barry has held various roles in the organization and has worked extensively on loss and loss adjustment expense reserve evaluations, product development, and pricing assignments for Property and Casualty and Title insurance. As a resource to the industry, Barry has applied his knowledge and experience in directing Demotech’s insurance industry data analysis projects and research reports.
Barry is a graduate of The Ohio State University, holding both a B.S. in Actuarial Sciences and Mathematics, and a B.S.B.A. in Finance and Risk Management & Insurance.

Robert M. Warren
CPA (inactive), CPCU Ratings Manager

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CPA (inactive), CPCU Ratings Manager
Bob Warren provides both financial and business analysis for Demotech in the formulation of Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies. His knowledge and understanding of the insurance business and fundamentals, his expertise in evaluating statutory financial statements, and his ability to thoroughly review key financial variables bring a valued perspective to Demotech’s assessment of the management and stability of its client companies. Bob interfaces with clients to assist them in completing a rigorous financial analysis, while also providing insight regarding financial reporting practices and procedures. Bob has been specifically involved with start-up companies, developing and implementing a procedure to review and rate newly formed insurers, most notably in the State of Florida.
Bob joined Demotech in 2006, bringing 25 years of diverse finance and accounting experience in the Property & Casualty insurance industry. A CPA (inactive), he has held positions of Chief Financial Officer and Controller and has worked with Boards of Directors, executive committees, rating and regulatory agencies, state examiners, auditors, external consultants and reinsurers. He has participated in mergers and acquisitions, led the conversion of a mutual insurance company to a stock company, and has directed financial reporting in a publicly held entity.
Prior to joining Demotech, Bob held the position of CFO for Ohio Mutual Insurance Company. Previous roles included Vice President, Controller of German Mutual Insurance Company and Vice President and Treasurer for the Beacon/American Insurance Companies. Bob has been actively involved in the industry, having served as president of the Ohio Association of Mutual Insurance Companies and on the regulatory board for the National Association of Mutual Insurance Companies.
Bob holds a B.S. in Accounting from Franklin University.

Douglas A. Powell
Senior Financial Analyst

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Senior Financial Analyst
Doug Powell supports the formulation and assignment of Financial Stability Ratings® (FSRs) for Demotech in providing analysis of statutory financial statements and business information pertaining to Title underwriters and Property & Casualty insurance companies. He also performs financial and operational and peer group analyses and benchmark studies for client companies. In addition, Doug serves as the Editor of “Analysis of Risk Retention Groups,” an on-line report published quarterly by Demotech, which provides a comprehensive review of current financial data on risk retention groups, and commentary by industry leaders.
Doug also directs many of the communications by Demotech to clients and to the industry. He monitors and performs research and analysis of insurance industry issues, trends and results, and has authored/co-authored numerous articles and reports in industry trade journals (Insurance Journal, Insurance Advocate, The Title Report).
Doug has assumed increasing responsibility since joining Demotech in 2006, having worked previously as an accountant and auditor in the nonprofit and government sectors.
Doug holds a B.B.A. from Tiffin University, and an M.B.A. from Ashland University.

Paul D. Osborne
Director of Information Systems

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Director of Information Systems
Paul Osborne directs data management and application development in support of Demotech’s Financial Stability Ratings® process. He also serves as the Editor of Demotech Performance of Title Insurance Companies, the highly regarded annual publication which provides the most comprehensive overview of the Title insurance industry, market trends, company performance, and Financial Stability Ratings® (FSRs).
Paul joined Demotech in 2005, having spent 15 years in IT management, systems analysis & development, with diverse experience in the insurance industry. With a broad-based background in software development, database management, systems analysis, and financial services, Paul is a key analytic and technical resource for the Demotech team.
Paul holds a B.S. in Mathematics & Statistics from Miami University.

W. Burke Coleman
Esq. Chief Regulatory & Compliance Counsel

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Esq. Chief Regulatory & Compliance Counsel
Burke Coleman is responsible for developing, monitoring and evaluating internal controls pertaining to Demotech’s business processes. He leads contract reviews, develops and updates internal policies, and monitors regulatory requirements within the insurance industry. Burke also oversees intellectual property considerations with respect to the application and use of Financial Stability Ratings® (FSRs).
Burke brings to the company a broad-based legal background in compliance, transactional matters, and litigation. His focus is supporting Demotech in advancing the company’s business interests and providing counsel on all legal issues and compliance matters
Burke also serves as a resource on legal and regulatory matters to the insurance industry, having authored numerous articles appearing in industry publications including Insurance Journal, Claims Journal, Insurance Advocate, and Captive Insurance Times.
Prior to joining Demotech, Burke worked in private practice, representing small businesses and individuals in a variety of legal matters and advising clients on issues of policy, procedure, and corporate governance. Burke also previously worked as a Special Agent with the FBI, investigating white-collar crime, focusing primarily on complex financial crimes and health care fraud.
Burke holds a B.A. in History from Bowling Green State University and a J.D. from Capital University. He is admitted to the Bar of the State of Ohio and the U.S. District Court for the Southern District of Ohio, and is a member of the Ohio State Bar Association.

Barbara Albert
Executive Editor, The Demotech Difference

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Executive Editor, The Demotech Difference
Barb serves as the executive editor of The Demotech Difference, the company’s quarterly magazine that provides expert insights into the insurance industry and reaches an audience of over 20,000 insurance professionals. Barb manages the publication team, authors and edits articles, interviews industry experts, and oversees all content and design for the magazine. She also manages marketing and website development for Demotech.
Joining Demotech in 2015, Barb brought extensive experience in writing, publishing and marketing. She previously worked as a journalist for over ten years, created and edited a magazine for a state educational organization, and is a published author. Prior to joining Demotech and launching The Demotech Difference magazine, Barb worked in marketing and in web redesign for an accounting firm in Columbus, Ohio.
Barb is actively involved in business publishing organizations as a member of the American Society of Magazine Editors (ASME), and the American Society of Business Publication Editors (ASBPE), where she also serves as a judge for the annual ASPBE competition for business-to-business publishing.
Barb attended The Ohio State University.