JACKSONVILLE, Fla., March 2, 2023 /PRNewswire/ -- The Fortegra Group, Inc. ("Fortegra"), a global specialty insurer, and subsidiary of Tiptree Inc. (NASDAQ: TIPT), announced today a collaboration with Adlaur LLC ("Adlaur"), the newly created entity led by former Spinnaker Insurance Company executives Adam Tyburski and Laurence Bunin. Harnessing Fortegra's AM Best Financial Strength Rating of A- (Excellent), the relationship will bring intelligent capacity solutions to established managing general agents (MGAs) and program administrators operating in niche and dislocated markets across the United States.
"We are excited to support Adlaur and its trailblazing approach to program business," said Mark Rattner, Executive Vice President, and Chief Underwriting Officer at Fortegra. "With this independent underwriter bringing company programs that have already been vetted, our strategic relationship will enable Fortegra to continue its growth by efficiently meeting the capacity needs of our MGA partners."
Adlaur's unique approach brings together the capabilities of proactive sourcing, rigorous hands-on production partner oversight and reporting, and aptitude in complex reinsurance structuring and economic modeling. The company was built to review a broad range of short-tail business, spanning property, liability, and specialty lines. Business will be sourced predominately through reinsurance broker markets and will be written on an admitted and excess and surplus lines basis, initially focusing on excess and surplus lines programs.
"Working with Adlaur will enable carriers to utilize hard-to-find expertise, and having those experts build and execute a plan to source and manage a program's business bespoke to those carriers' appetites and requirements," said Tyburski and Bunin. "We are thrilled to launch our company with an entity that shares our values and our commitment to providing market-leading solutions. Together, we will help bring well-aligned solutions to established program managers."
Tyburski and Bunin bring unique experience to bear as advisory services consultants to the parties involved in program business and/or hybrid fronting. The two have separately and jointly built and operated successful businesses and offer a wide range of expertise. At Spinnaker, the duo contributed as leaders to the company's development, growth, and ultimate sale in 2020. Most recently, Tyburski and Bunin served as co-Heads of Fronted Programs for Core Specialty Holdings Inc.
Adlaur can consider per risk gross limits up to $2.5 million or $1 million on a net basis after reinsurance. Its target business will initially consist of smaller-limits commercial, niche personal and specialty lines, and strategic reinsurance for program business. The company is headquartered in Gladstone, New Jersey.
About Fortegra
For more than 40 years, Fortegra and its subsidiaries have underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a global specialty insurer, we offer a diverse set of admitted and surplus insurance products and warranty solutions. Fortegra's A.M. Best Financial Strength Rating of A- (Excellent) is a result of our strict underwriting standards, consistent profitability, and high cash flows. For more information, please visit: https://www.fortegra.com.
Contact:
media@fortegra.com
SOURCE Fortegra