AF Group, an industry leader in offering specialty insurance products, has entered into the assumed reinsurance marketplace through a new partnership with Waypoint Underwriting Management.
The partnership aligns AF Group with Waypoint, a proven expert in reinsurance risk underwriting and pricing.
Waypoint will begin underwriting property, workers' compensation and casualty treaty reinsurance for and on behalf of AF Group beginning 1 July.
The assumed reinsurance product is part of AF Group's AF Specialty division.
AF Specialty provides fronting services and captive solutions to insurance carriers, managing general agents, reinsurance intermediaries, and captive managers seeking a fronting facility to place well managed, turnkey commercial property and casualty programmes.
They provide eligible partners with multiple entities of fronting paper which allows AF Specialty to write a broad spectrum of coverages on a national platform.
Commenting on this partnership, Lisa Corless, president and CEO of AF Group, says: "We are extremely excited to partner with Waypoint. This agreement further leverages our growing reinsurance platform and provides an outstanding opportunity to further diversify our business through our exploration and delivery of specialty products to meet new and unique customer needs."
Joseph Horan, managing partner at Waypoint, notes: “This exciting announcement with AF Group reflects our continued commitment to bring strong financial capacity to the reinsurance market across a diverse and balanced product offering,” he concludes.
