Ategrity Specialty Insurance Company Receives A- (Excellent) Rating from A.M. Best and Will Begin Offering Property & Casualty Insurance Immediately
Ategrity Specialty Insurance Company (“Ategrity” or “the Company”), a specialty property & casualty insurance company focused on the excess and surplus (“E&S”) lines market, today announced that it has received an A- (Excellent) VIII financial strength rating from A.M. Best Company and will begin offering insurance immediately. Ategrity’s offerings include commercial E&S property and casualty business on a primary and excess basis.
“We are excited to launch Ategrity and bring our strong underwriting discipline in general liability and commercial property to the marketplace,” said Mike Miller, Chief Executive Officer and Director of Ategrity. “With our highly experienced team, advanced cloud-based digital platform and unrelenting focus on service, we are confident that Ategrity will quickly establish itself as a leader in the E&S market and as a trusted partner to our customers.”
The Company is launching with $125 million in funding from Stuart Zimmer, Founder and Chief Executive Officer of Zimmer Partners, LP (“Zimmer Partners”), a research-driven multibillion dollar investment advisor based in New York City. Mr. Zimmer will serve as non-executive Chairman of the Board of Directors of Ategrity.
“We are excited to partner with Mike and his team, as their proven track record and experience are a meaningful market advantage,” said Mr. Zimmer. “We look forward to supporting Ategrity’s growth into a leading player in the E&S marketplace.”
As previously announced, Ategrity’s management team will include John Goodloe, Chief Underwriting Officer of Brokerage, and Joe Griffith, Chief Information Officer. The Company has recently hired additional senior staff, including Jeff Marshall, Chief Financial Officer, and Sandy Vertuno, Chief Underwriting Officer of Contract Binding. Mr. Marshall has over 30 years of experience holding senior financial positions at York Risk Services Group, Strongwood Insurance, Nationwide Insurance and Cigna. Mrs. Vertuno began her insurance career in 1985, holding progressively senior roles at Scottsdale Insurance Company. Additional underwriting staff include Scott Noffsinger and Jason Johnsen, Managing Directors in Brokerage; Dylan Campbell, Senior Underwriter in Brokerage; and Sandra Gent, Underwriting Specialist in Contract Binding.
Ategrity also appointed two independent directors to its Board of Directors, Tom Hulst and R. Max Williamson. Mr. Hulst is President and Founder of ReThink, a Bermuda based consulting firm, and previously served as the CEO of Ariel Reinsurance Company. Mr. Williamson is the retired President of Scottsdale Insurance Company.
