AM Holding Company has announced the launch of AM Specialty Insurance Company (ASIC), an Arizona-authorised domestic excess and surplus (E&S) lines carrier and accredited reinsurer based in Dallas, Texas.
According to the announcement, this new entity joins the group’s other insurance subsidiaries, AM RE Syndicate and AM Star Claims, as the three firms operating under the AM Holding Company umbrella.
The company describes this as a significant milestone, as it means the group can now write business using its own capacity as well as on behalf of foreign reinsurers. As such, the firm plans to write new programs from 1.1 2023, in addition to its current programs business with existing partners.
Additionally, the launch of the accredited reinsurer is seen as an opportunity to take greater control over the company’s capacity deployment. Although it is authorised in Arizona, the company plans to gain licensure across all 50 states as…
