Specialist captive insurance and reinsurance MGU International Re (I–RE) has entered into a new strategic capacity partnership with Cimarron Insurance.
The partnership aims to underwrite a number of admitted property and casualty lines of business, set to launch during the next year.
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Said to be a niche specialist admitted insurer, Cimarron is a group of insurance and risk management firms that caters to underserved niche markets.
It offers a spectrum of insurance, risk management, and risk financing solutions to individual business owners, owner operators, and other small business owners.
I–RE co-chief executive Andy Jeckells said: “We are excited to launch our partnership with Cimarron, the first of a number of strategic partnerships with insurers that we expect to roll out through 2021.
“I–RE’s high-performing mid-market clientele deserve to underwrite their own commercial property and casualty insurance, whilst retaining profits, just as big corporations can, and partnership with Cimarron delivers the high-quality admitted capacity they need to do that. I’m looking forward to working closely with the Cimarron team and extending the reach of RE–PAID to our clients.”
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By GlobalDataCimarron CEO Paul Halter added: “Working together, I–RE and Cimarron are eliminating the barriers that stand in the way of mid-market companies underwriting admitted commercial property and casualty insurance policies in the stand-alone and independent cell captives they own.”
In June this year, Orchid Underwriters Agency launched a new MGU, dubbed CrossCover Insurance Services, in the commercial property market to underwrite middle-market commercial properties for wholesale broker clients.
