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London-based Tristram Prior will transfer to Bermuda to lead the line of business.
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The policy includes a $200mn limit with an additional $100mn for side A coverage.
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The PE fund says Argo failed to indemnify it for costs related to a probe by New York’s attorney general.
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The acquisition brought four collector vehicle MGAs to the carrier’s existing collector vehicle portfolio.
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Next year will mark five consecutive years of insolvency increases.
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A string of high-profile bankruptcies has put more scrutiny on the once marginal sector.
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The company announced four key leadership appointments on Wednesday.
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Veradace claims the deal benefits Tiptree management at shareholder expense.
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The chief executive said he doesn’t expect to see a price drop anytime soon.
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Property insurance rates declined by 9%, the same as in the prior quarter.
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Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
