Insurance solutions provider AF Group is expanding into the fronting carrier space, with a new division named AF Specialty set to offer fronting capacity to insurance carriers, managing general agents, reinsurance intermediaries and captive managers.
Fronting for other capacity providers has been the trend in recent years, but AF Specialty will offer a differentiated twist on the fronting carrier model, with an ability to retain a portion of the underwriting risk on select accounts, where it is deemed profitable and attractive to do so.
AF Group has hired Eric Halter to run the new fronting carrier operation, who will be tasked with partnering with companies seeking a fronting facility to place turnkey property and casualty programs.
“We are excited to introduce AF Specialty to our portfolio and welcome Eric as our resident expert to develop this new brand,” commented Lisa Corless, president of AF Group. “For more than a century, we have built strong partnerships with agents to provide outstanding and innovative service in the workers’ compensation space.
“Today we are offering this same expertise and delivery system to a broader market. Eric’s considerable expertise in navigating state insurance and financial regulatory issues and his exceptional knowledge of captives, reinsurance and mergers and acquisitions will serve us well as we build new relationships with insurance partners.”
Halter has 25 years of experience in the insurance and financial sectors. Most recently, he served as president of captive management organization Patriot, where he oversaw its global operations and led the company to profitability and growth.