A newly-formed business dedicated to insurance fronting has launched today, after securing the required capital from its founders.
Concert Group Holdings has been established by Strategic Risk Solutions’ Brady Young, Southern Insurance Underwriters’ Wes Duesenberg and Christopher Collins from Corinthian Re.
Concert has been formed in partnership with Century Equity Partners and WT Holdings.
It is expected to provide access to the US insurance market for both traditional products and alternative risk transfer structures.
The venture has already completed the acquisition of CEM Insurance Company, which its says will serve as one of the growth platforms for its operations.
CEM Insurance Company has been renamed Concert Insurance Company and is a licensed admitted insurer domiciled in Illinois.
Oppenheimer & Co. served as exclusive financial advisor to Concert. Morris, Manning & Martin, LLP was legal advisor to Concert and Foley & Lardner LLP acted as lead counsel to the investors.
