Victor, a world managing normal underwriter (MGU) has entered the reinsurance market with the acquisition of Regional Treaty Services Corporation (RTSC), a privately held reinsurance MGU based mostly in Newport, Rhode Island.
RTSC, based in 2003, is a licensed reinsurance producer that serves as an MGU for 3 reinsurance amenities for small to midsize regional US-based insurers. RTSC’s consumer firms primarily write private traces, small agriculture, and important avenue industrial enterprise.
Following the acquisition, RTSC founder John Pfautz will proceed in his present duties and report back to Brian Hanuschak, CEO of Victor Insurance Holdings.
“Joining Victor is the next logical step in RTSC’s evolution,” mentioned Pfautz. “Victor understands our long-term value and is committed to supporting future growth opportunities for reinsurers and cedents. I look forward to joining Victor’s talented team with its strong track record of success, while expanding RTSC’s ability to deliver even greater value to our clients.”
Hanuschak commented: “Today marks an vital chapter in Victor’s 65-year historical past as we increase our underwriting capabilities into the reinsurance market. Victor’s give attention to small industrial enterprise coupled with our historical past of underwriting excellence, variety of merchandise, and long-term capital relationships align properly with RTSC’s robust underwriting report.
“We look forward to supporting and growing existing RTSC carrier clients through our advanced technology and innovative approach to matching risk, distribution, and access to capital.”
Victor is a world MGU with areas within the US, Canada, UK, Netherlands, Italy, and Australia. It handles greater than $2.5 billion in premium on behalf of quite a few insurance coverage and reinsurance relationships by way of a big community of greater than 20,000 energetic insurance coverage brokers and brokers.