Start-ups
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The start-up envisages expansion into insurance “in the coming years”, AM Best said.
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The ratings agency has given the entity a financial strength assessment of A-.
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Galanski, Consolino, Sills and Co will have to build franchises that can withstand a cycle turn. -
The new entity has an initial financial strength rating of A- from AM Best with a stable outlook.
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The insurance industry veteran obtained commitments from a PE firm for a $200mn-$300mn deal.
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Former Pembroke CEO Mark Wheeler is widely expected to join the business after his restrictions end.
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The portfolio of InsurTech partnerships will now be overseen by the company’s specialty businesses in the US and UK.
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The John Boylan start-up continues its aggressive hiring spree in Ireland, UK and Bermuda.
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“We see a future where brokers are very important”, said Newfront's CEO.
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Vantage Insurance has also been assigned an initial long-term issuer credit assessment of a-.
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James Tees joins the new professional lines-focused insurer as CFO, and David Newman becomes CUO.
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The reinsurer dubbed "Vantage" also secures Aurora Swithenbank as CFO.
