Reinsurance News

Orion180 places $455m XoL reinsurance arrangement

19th May 2023 - Author: Kane Wells

Insurance solutions provider Orion180 has successfully filled its $455 million excess-of-loss (XOL) reinsurance tower for first and second event coverage this hurricane season for its Orion180 Insurance Co. homeowners business.

Orion180 Insurance Co., a subsidiary of the Orion180 Group Inc., underwrites homeowners insurance in Alabama, Mississippi, North Carolina, and South Carolina as an excess-and-surplus lines insurance carrier.

In addition to the XOL tower placement, the firm has also placed a 75% net quota share agreement, which it states will enable it to continue its substantial personal lines premium growth across the Southeast.

CEO and founder of Orion180, Kenneth Gregg, commented, “This reinsurance arrangement supports Orion180’s strategy of aggressively serving Southeastern United States markets with quality homeowners insurance products and outstanding customer experience.

“The recent and continued upheaval in the property insurance markets, especially in the Southeast, makes this new reinsurance capacity meaningful for our independent agency partners.

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“The additional reinsurance capacity speaks to the financial strength of the company and serves as a signal that Orion180 is open for business ready to serve customers in these catastrophe-exposed markets, and is on a continued growth track.”

Matt Dragonetti, president and head of property for Arch Re, which leads the global reinsurance panel, said, “With their dedication to customer satisfaction, personalized policyholder solutions and a focus on innovation, Orion180 is a partner to whom we have dedicated our time and capital in this challenging property cat reinsurance market.”

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