Houston International Insurance Group (HIIG) has entered into a partnership with Energi Insurance Services to provide a captive insurance solution for energy clients in need of alternative insurance coverage.
The captive, eCaptiv, is based in Vermont and funded by client participation. Its coverages are auto liability, general liability, excess liability, and workers compensation.
Significant excess reinsurance will be provided above captive retentions.
HIIG is an insurance company based in Houston, focusing on underwriting, acquisitions and strategic investments.
The company has underwriting segments focused on accident and health, commercial, excess and surplus lines, and speciality.
Its insurance companies, Houston Speciality Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company, are all rated A/A- (Excellent) by A.M. Best.
Stephen Way, chairman and CEO of HIIG, commented: “We are pleased to have reached this agreement in principle with Energi and look forward to working with their very experienced management team and captive clients in building a best-in-class facility.”
Brian McCarthy, CEO of Energi, added: “We are pleased to have HIIG as our partner for the energy group captive programs. HIIG’s depth of resources will be extremely beneficial to the members and the long-term success of these programs.”
The deal was facilitated by Stonybrook Risk Management, which will act as the financial advisor for mezzanine financing for Energi through Stonybrook Capital.