Fronting insurer raises $100M in capital

Fronting insurer Concert Group Holdings Inc. said Wednesday it has completed its targeted capital raise of $100 million.

The Chicago-based company, whose operations include Concert Insurance Co., reflects a combination of a group of captive management and insurance executives that teamed with a private equity investor and an insurance holding company, which was announced in June.

Concert Group chairman Brady Young, who is the founder and chief executive officer of a member of the group, captive management firm Strategic Risk Solutions Inc., said in a statement that favorable market conditions and pent-up demand make this an “opportune time” to introduce a fronting business.

Concert will have a highly diversified portfolio with a focus more on casualty lines and generally low-severity, high-frequency lines, a spokeswoman said in a statement.

SRS is the world’s fourth-largest captive management company, according to Business Insurance’s most recent ranking.

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.