Appleby acted as Bermuda counsel to Transverse Insurance Group in their partnership with AmRisc LLC, a subsidiary of Truist Insurance Holdings and the largest catastrophe-focused property MGA in the United States.
Transverse will participate in AmRisc's national program of E&S commercial property exposure which in aggregate constitutes over $1 billion of premium.
Ethan Allen, Chief Underwriting Officer at Transverse said: "Our partnership with AmRisc is a great validation of our business model. We strive to combine the talent and experience of our team with the flexibility of our hybrid fronting structure. We take great pride in managing the needs of sophisticated MGA and reinsurance players"
John Horton, Chief Market Officer at AmRisc added: "We are excited about this innovative partnership with the Transverse team. Our active participation in the Transverse reinsurance program design expands the capacity and stability we can offer all our customers in this dynamic market."