MS Transverse Insurance Group, a “hybrid fronting” carrier based in North America and a subsidiary of MSIG Holdings (USA), Inc. (MSIGH), has announced major changes to its leadership team.
Co-founder and CEO Erik Matson will step down from his role to become vice chairman, while David Paulsson, co-founder and current president, will take over as CEO. Meanwhile, CFO John Fitzgerald will ascend to the role of president.
Under Matson's tenure, MS Transverse (initially known as Transverse Insurance Group) spearheaded the hybrid fronting model in the program carrier sector, growing the market to exceed $14 billion in annual premium in the US.
Sold to MSIGH in 2023, MS Transverse collaborates with over 100 reinsurers and numerous major program managers and managing general agents.
“Transverse will always be part of Erik’s legacy and a testament to his vision and leadership. His continued counsel will be an asset to the company as vice chairman,” Paulsson said. “We ended 2023 in the enviable position of significant increases in top and bottom-line performance while delivering sector leading underwriting results. We look forward to building on our momentum and market position in the hybrid fronting space with the support of our MGA and reinsurance partners, as well as the formidable capabilities of MSIG.”
“Now is the right time for me to pass the torch to Dave and the amazing team we have built these past six years,” Matson said. “I look forward to continuing to support MS Transverse in my new role. I have not decided what I will be doing next, but I will cheer on MSIG and MS Transverse as they are on the path to another great year.”
MS Transverse operates as a facilitator in the program, managing general agent, and reinsurance markets, providing access to risk capacity and alternative capital on admitted and surplus lines paper.
Founded in 2018 by Erik Matson and David Paulsson, the company maintains offices in New York, New Jersey, and Texas and is a key part of the larger MS&AD Insurance Group Holdings network.
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