Ryan Specialty has launched AXSAL Re, a member-owned group captive managing general underwriter (MGU) formed specifically for transportation companies and other insureds with large fleets.
The alternative risk MGU is designed as an innovative alternative solution to the challenging buffer layer auto liability excess market.
Distributed through insurance brokers and agents, AXSAL Re is managed by Keystone Risk Partners, who specialise in alternative risk placements to address capacity issues.
AXSAL Re provides this auto liability excess capacity through a group captive structure. The underwriter is also supported by an A+ XV-rated carrier.
Commenting on the launch, Kieran Dempsey, chief underwriting officer of Ryan Specialty and president of Ryan Alternative Risk, explains: “This auto liability managing general underwriter is focused on offering an alternative solution to traditional insurance, allowing insureds buffer layer stability for the balance of the excess tower that follows. It is an innovative solution at the right time in the market.”
Andy Lewis, CEO of Keystone Risk Partners, adds: “We are very excited for this offering and know that it is the right solution for many transportation and large fleet companies. The state of the excess commercial automobile market is strained and is demanding alternatives for their insurance. AXSAL Re is an interesting and innovative option that has been developed from this strong need.”
