Fronting company launches surplus lines insurer
- February 23, 2024
- Posted by: Web workers
- Category: Finance
Recently formed fronting insurer Concert Group Holdings Inc. launched a Montana-domiciled excess and surplus lines insurer on Tuesday.
Concert Specialty Insurance Co. will be a sister company to Deer Park, Illinois-based admitted insurer Concert Insurance Co.
“With both an admitted and an E&S carrier, we now have the ability to write business on a broad basis, offering a full range of risk solutions to our clients,” Jonathan Reiss, CEO of Concert Group, said in a statement.
The insurers, which are rated A- by A.M. Best Co. Inc., will write coverage for captives and program managers, the statement said.
Concert was formed in June by a group of captive management and insurance executives with private equity backing. The insurer bought and renamed CEM Insurance Co, a specialty insurer that started as a syndicate on the now-defunct Illinois Insurance Exchange.
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