Origin Specialty Underwriters Agency, LLC, a national managing general agent (MGA) specializing in the restaurant, hospitality, and construction sectors, has established Origin Captive Solutions.
The new division will focus on providing captive solutions to middle-market businesses, expanding the company's risk management offerings.
The initiative is being launched in collaboration with GPW & Associates, Inc. The division will be supported by a team that includes underwriters, actuaries, certified public accountants, and captive insurance professionals.
Origin Specialty said that services will include the full creation and execution of captive insurance structures.
As part of the new unit’s establishment, Daniel Rossen (pictured above) has been appointed managing director of Origin Captive Solutions. The division's initial focus will be on property solutions backed by AM Best-rated paper, enabling captives to assume risk while meeting lender requirements.
Origin Specialty’s expansion in the captives segment follows a growing trend in the country.
In an interview with Insurance Business, Alera Group SVP and national practice leader Prabal Lakhanpal said that recent economic shifts and market pressures have fueled growth in the captives sector, bringing a once-niche solution to the forefront of broader risk management strategies.
Historically, while captives were exclusive to the large organizations, Lakhanpal said that market evolution has made them accessible to mid-market and even smaller entities.
“Group captives are now catering to different segments in the market, usually on the smaller side, while cell captives serve mid-sized markets,” he said.
Outside of its expansion into captives, Origin Specialty has also gained a foothold in agribusiness with the acquisition of Agricultural Insurance Management Services (AIMS), an agribusiness insurance-focused managing general underwriter.
AIMS was founded by industry veteran Clark Lindley. The company started underwriting policies in 2000.
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