Bermuda-based Maiden Holdings has provided $3.25 million of seed capital in order to help accelerate the expansion of risk transfer managing general agent USQRisk.
As part of its investment deal, USQRisk has added Maiden co-Chief Executive Officers Lawrence Metz and Patrick Haveron to its board of directors.
The funding provided by Maiden will allow USQRisk to expand its operations to meet the market’s needs for alternative risk solutions.
This comes at a time when constraints within the traditional insurance market are driving corporations and their brokers to seek stable risk transfer and risk financing structures.
USQRisk’s principal focus is delivering alternative risk transfer solutions to corporate and financial sector clients.
Maiden’s funding will also help allow USQRisk to grow its team of alternative risk professionals to meet the increase demand for such solutions and to accelerate the development of its programs and advisory platform.
Anibal Moreno, CEO of USQRisk said: “Our aim is to be the premier alternative risk structuring shop in the United States by building a standard of excellence focused on innovative solutions, execution and sustainable client partnerships. Maiden’s seed financing allows us to do that with a partner that will help us execute on a broader range of opportunities too.”
Haveron and Metz added: “We believe Anibal, Michael Zipper and the USQRisk team’s proven expertise in the alternative risk transfer market positions it to capitalise on abundant opportunities emerging in this market, particularly given the cycle turn presently underway.
“USQRisk’s multiple pillar approach to serving its clients should enhance its presence in the market at a critical time, and we believe Maiden’s support will help accelerate implementation of USQRisk’s business plan. We look forward to partnering with USQRisk as they begin their journey in serving this vital industry segment.”
