Terry Ledbetter and Luke Ledbetter, formerly of State National Companies, have announced the establishment of a new company which acts as the exclusive producer for four A.M. Best “A-” rated carriers, called Kestrel Group.
The four carriers are widely licensed throughout the U.S. with broad admitted and surplus lines capabilities.
An announcement on the launch states that Kestrel Group’s unique structure will strategically enhance innovation across the insurance value chain.
Previously, Terry and Luke Ledbetter founded State National which was then sold to Markel.
Commenting on the formation of the new company, Executive Chairman of Kestrel Group, Terry Ledbetter, said: “We are proud to announce the formation of Kestrel Group, with an innovative structure which will further enhance efficiencies in the insurance value chain. Previously at State National, we focused on the creation of a bridge between distribution and capacity.
“Kestrel Group will build on that extensive expertise, strong track record of success and deep relationships throughout the industry to create significant benefit for our clients.”
President and Chief Executive Officer (CEO), Luke Ledbetter, added: “The core of our business is listening to the needs of clients in structuring transactions which lead to long term partnerships. Terry and I have spent our careers focused on these efforts and we find great satisfaction in building relationships and structuring solutions to benefit all parties.
“We are excited about the opportunity to once again serve program managers, MGAs, reinsurers and reinsurance brokers through the Kestrel Group.”
The pair explains that the senior management at Kestrel is an “experienced and enthusiastic group including the founders of State National Companies”.
Additionally, the team possesses deep industry relationships and extensive knowledge of onboarding and managing complex programs efficiently. Further, the senior team has built a lengthy track record of writing profitable program business as well as managing strong relationships with regulators and rating agencies.
