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The segment represents approximately 11% of the overall P&C market. -
Specialty reinsurance MGU Waypoint has formed a strategic partnership with workers compensation carrier CompSource Mutual.
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RLL offers a fully insured and captive program to multifamily owners and managers.
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Colin Addy and Greg Conroy, former Vale and Chubb executives, co-head the new operation.
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In a post-Vesttoo world, vulnerabilities still exist in the collateralized reinsurance market.
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Westchester’s Kyle Garrett was named VP, executive underwriter for property.
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The oversubscription may signal additional capacity waiting on the sidelines.
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Sources said the Bermuda carrier has been working with Jefferies on the sale.
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The announcement confirms earlier reports from this publication.
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Sources said the deal was roughly three times over-subscribed as cat becomes hot.
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The leadership team includes Spinnaker co-founders Dave and Ken Ingrey and ex-CUO Miles Allkins.
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The Ahoy! deal marks the first acquisition for the RedBird-backed MGA.
