Everspan and Aurenity Partner on Excess Casualty Buffer Program
05 Avril 2023 - 2:30PM
Business Wire
Everspan Group, Rated A- (Excellent) by AM Best, and
tech-enabled MGA Aurenity have launched a new program to provide
excess casualty buffer coverage for mid-market construction,
hospitality, real estate, premises, and products risks.
The program addresses the demand for buffer layer coverage
between the primary market and increased average attachments in the
excess space. Typical targeted limits will be $4m excess $1m and
$3m excess $2m with flexibility to write shorter layers as
necessary. The program will be underwritten by Aurenity’s excess
casualty team led by Janet Beaver, and distribution will be through
wholesale E&S brokers.
“We are thrilled to partner with Aurenity on this program,” said
Steve Dresner, President of Everspan Group. “The Aurenity team
shares Everspan’s commitment to disciplined underwriting and uses
cutting-edge technology to enhance their underwriting expertise,
making this partnership a great fit for us.”
Aurenity formed in January 2022 with backing from Chicago-based
investor Agman. The MGA’s market-leading talent is enabled by
Aurenity’s sophisticated ‘Augment’ pricing and analytics platform,
which delivers differentiated risk insight to its growing
underwriting team.
Aurenity recently launched primary general liability and excess
casualty programs. With the launch of the excess buffer program, it
now has the capability to participate in all layers of the
placement tower.
“Everspan’s underwriting philosophy and entrepreneurial outlook
are aligned with our own,” Aurenity CEO Nick Davies said. “We are
bringing a much needed solution to the E&S market together
whilst we continue to build Aurenity’s extensive capabilities in
the casualty market.”
About Everspan Group
Everspan Group is a specialty property and casualty insurance
platform that operates nationwide on an admitted and non-admitted
basis. The companies which comprise the Everspan Group are wholly
owned subsidiaries of Ambac Financial Group, Inc. (NYSE: AMBC), an
insurance holding company. For more information, please refer to
www.everspangroup.com.
About Aurenity
Aurenity is blending market leading underwriting talent with
cutting edge analytics to create a new MGA for the E&S market.
Founded by underwriting experts with a common interest in
technology, our team shares over a century of experience at top
tier carriers. Harnessing our sophisticated ‘Augment™’ risk models,
our underwriters have access to better data and smarter analytics
to deliver cross cycle profit for our partners. Aurenity, where
expertise meets innovation. Learn more at www.aurenity.com or
contact Aurenity at info@aurenity.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230405005098/en/
MEDIA:
Everspan: Kate Smith Director, Corporate Communications
212-208-3452 ksmith@ambac.com
Aurenity: Patrick Safino Chief Operating Officer 860-670-5373
patrick.safino@aurenity.com
Ambac Financial (NYSE:AMBC)
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