Insurance fronting company Concert Group Holdings has formed Concert Specialty Insurance Company (CSIC), an excess and surplus (E&S) lines carrier domiciled in Montana.
As a wholly-owned subsidiary of the fronting company, which was formed in June of this year, CSIC joins Concert Insurance Company, the group’s property and casualty operations, in receiving an ‘A-’ (Excellent) rating from A.M. Best.
The rating agency explains: “As the management team has extensive relationships in the reinsurance and insurance-linked securities markets, A.M. Best expects CSIC’s reinsurance panel to be well-balanced between the traditionally rated market and fully collateralised reinsurance market, as well as being highly diversified.”
CEO Jonathan Reiss comments: “We formed Concert to provide a higher level of client focus and responsiveness to captive and programme clients that have been underserved. With both an admitted and an E&S carrier, we now have the ability to write business on a broad basis, offering a full range of risk solutions to our clients.
“Concert Specialty nicely complements our admitted platform, Concert Insurance, and offers a targeted approach that supports the captive and programme administrator marketplaces.
“Our experienced team can deliver creative, customised solutions to managing general agents, programme administrators, captive managers and reinsurance partners, helping them serve customers and clients with evolving, hard-to-place risks,” Reiss concludes.
