Fronting

Fronting companies typically hold premiums in reserve meaning that credit exposure to letters of credit on Vesttoo transactions should only be required in the event of deteriorating losses.

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Sources said the Pine Brook-backed firm has retained Piper Sandler and will look to formally kick off following the summer.

Ciano was most recently practice leader for management liability with USI Insurance Services.

The fronting carrier’s reinsurance write-down is the first crack in the segment’s impressive edifice – it won’t be the last.

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Dijak joins the firm’s executive team less than five months after he moved to AI-based insurance-linked investment platform Vesttoo as VP.

The fronts are highly leveraged balance sheet firms taking significant underwriting risk, with high levels of counterparty credit risk.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Based in Austin and Dallas, Texas, the new company will provide fronting insurance to four US carriers.

The executive will continue reporting to CEO William Jewett based in New York.