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Sources said that Waller Helms/Houlihan Lokey is working with the firm as financial adviser. -
Regulators have been keeping a close watch on the market, however.
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Other backers include Arch Specialty, Allianz, Allied World and HDI.
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Interest in maintaining current DUAE relationships outweighs forging new ones.
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Sources said the MGA secured support from MS Transverse, Axis, AmTrust and Summit for TL business.
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The program will offer limits up to $5mn.
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Regilio will lead a sales team to “expand market share and forge strategic partnerships”.
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The homeowners’ MGA CEO said the wildfires could spur a re-evaluation of models.
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Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.
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The company will now focus on growing its E&S and InsurSec offerings.
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The review follows Velocity’s acquisition by FM Group.
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Flatt will remain on the company’s board of directors.
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