Reinsurance News
Transverse Insurance Group
Transverse names Paul Goodwin Head of Reinsurance Strategy
12th April 2023
Specialty insurer MS Transverse Insurance Group, has appointed Paul Goodwin as Head of Reinsurance Strategy, who was previously Head of Business Development. Goodwin joined Transverse in 2022 after having worked at Partner Re for over four years. During this time, he held the role of Head of Americas Broker Relations ... Read the full article
AM Best upgrades Transverse Insurance Group’s credit ratings
4th April 2023
AM Best has upgraded the credit ratings of Transverse Specialty Insurance Company (Wilmington, DE), Transverse Insurance Company (Dallas, TX) and TRM Specialty Insurance Company (Indianapolis, IN), which collectively are referred to as Transverse Insurance Group. The agency has also removed them from under review with positive implications. The insurer and its group ... Read the full article
MS&AD completes Transverse acquisition
4th January 2023
Transverse Insurance Group, a hybrid P&C program and fronting carrier specialist, has been acquired by MS&AD Insurance Group Holdings, through its Mitsui Sumitomo Insurance arm, the insurer has confirmed. The acquisition has received all customary approvals and has been completed. Transverse is now a wholly owned subsidiary of MS&AD as it ... Read the full article
Mitsui Sumitomo confirms Transverse acquisition
10th August 2022
Japanese insurance group Mitsui Sumitomo Insurance (MSI) has confirmed that it plans to acquire hybrid P&C program and fronting carrier specialist Transverse Insurance Group, after rumours of a potential deal surfaced last week. MSI has not yet disclosed a price for purchasing Transverse from its current owners, Virgo Investment Group, ... Read the full article
Mitsui Sumitomo reported on verge of $400m Transverse acquisition
7th August 2022
Japanese insurance group Mitsui Sumitomo has been reported to be on the verge of a $400 million acquisition of hybrid P&C program and fronting carrier specialist Transverse Insurance Group. Japanese newspaper the Nikkei reported the news and said a deal for the rumoured roughly $400 million acquisition could be announced before ... Read the full article
Transverse launches insurtech venture fund
26th April 2022
Transverse Insurance Group, the P&C program carrier launched in 2018, has announced the final closing of its new venture capital fund. Transverse Ventures Fund I is supported by the capabilities of multiple partners including insurance carriers and executives. The fund is mainly focused on making early-stage investments in insurance and adjacent technologies ... Read the full article
Transverse adds new head of business development
23rd March 2022
Transverse has appointed Paul Goodwin to be its head of business development, while confirming it has attained Class VIII size category. Goodwin is joining the firm from Partner Re where he served as head of Americas broker relations and senior VP for global clients. He previously spent most of his career ... Read the full article
Transverse targets hybrid fronting business growth with $48m capital raise
11th January 2022
Specialty insurer Transverse Insurance Group has successfully raised $48 million of additional capital as it looks to grow its hybrid fronting insurance operation this year and beyond. As well as supporting the planned expansion of its hybrid fronting business, Transverse expects this debt and equity raise to see A.M. Best grant ... Read the full article
Transverse and Lumen launch Commercial Property Insurance Program
17th May 2021
Lumen Risk Services, has launched its Commercial Property Insurance Program in partnership with P&C program carrier, Transverse Insurance Group. The non-admitted program will initially offer monoline property coverage for multi-family, hospitality, and light commercial property accounts, along with future plans to expand into other lines of coverage. Alongside this launch, Lumen has ... Read the full article
Transverse names Fitzgerald as CFO, Zerafa as COO
11th March 2021
P&C program carrier Transverse Insurance Group has announced the appointments of John Fitzgerald as Chief Financial Officer (CFO) and Robert Zerafa as Chief Operating Officer (COO). Fitzgerald most recently served as VP, Finance & Controller at ProSight Specialty Insurance, with earlier tenures at QBE and Ernst & Young. “We are delighted to ... Read the full article
Transverse partners with AmRisc
12th February 2021
Transverse Insurance Group has partnered with AmRisc LLC, a subsidiary of Truist Insurance Holdings. 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 ... Read the full article
Transverse Insurance Group’s E&S carrier receives A- rating from A.M. Best
1st May 2020
Transverse Insurance Group, a leading program carrier, has announced that its E&S carrier, Transverse Specialty Insurance Company, has received a Financial Strength Rating (FSR) of A- (Excellent) from global financial services ratings agency, A.M. Best. The company acquired its E&S carrier in January of this year, which followed its takeover ... Read the full article
Transverse completes acquisition of Arrowood’s E&S insurer
24th January 2020
Virgo Investment Group backed program carrier, Transverse Insurance Group, has completed its acquisition of Arrowood Surplus Lines Insurance Company (ASLIC) from Arrowood Indemnity Company (Arrowood), which is a subsidiary of Arrowpoint Capital. ASLIC is domiciled in Delaware and operates as an excess & surplus insurer, authorised to write business in most ... Read the full article