CHICAGO, Illinois, December 14, 2021 – Concert Group Holdings, Inc. (“Concert”), a newly formed business dedicated to insurance fronting, today announced that it has formed Concert Specialty Insurance Company (“Concert Specialty;” “CSIC”), an excess and surplus lines carrier domiciled in Montana.
Concert Specialty joins Concert Insurance Company, the group’s Illinois-domiciled property and casualty operations, as the two companies doing business under the Concert umbrella.
Both have received an “A-” (Excellent) rating from AM Best, who noted in a press release on December 14, 2021 that “as the management team has extensive relationships in the reinsurance and insurance-linked securities (ILS) markets, AM Best expects CSIC’s reinsurance panel to be well-balanced between the traditionally rated market and fully collateralized reinsurance market, as well as being highly diversified.”
“We formed Concert to provide a higher level of client focus and responsiveness to captive and program clients that have been underserved,” said Chief Executive Officer Jonathan Reiss. “With both an admitted and an E&S carrier, we now have the ability to write business on a broad basis, offering a full range of risk solutions to our clients.
“Concert Specialty nicely complements our admitted platform, Concert Insurance, and offers a targeted approach that supports the captive and program administrator marketplaces.
“Our experienced team can deliver creative, customized solutions to MGAs, program administrators, captive managers and reinsurance partners, helping them serve customers and clients with evolving, hard-to-place risks.”
In October 2021, Concert announced that it had secured $100 million in capital to fund its growth as a US insurance fronting business.
About Concert Group Holdings, Inc.
Concert Group Holdings, Inc. is a privately owned insurance holding company. Through its wholly owned subsidiaries, Concert Insurance Company and Concert Specialty Insurance Company, Concert offers insurance fronting and related services throughout the United States. For more information, visit www.concertgroup.com.