For Immediate Release (April 23, 2020) – Princeton, NJ- Transverse Insurance Group, a leading program carrier, is pleased to announce that they have received a Financial Strength Rating (FSR) of A- (Excellent) for their E&S carrier, Transverse Specialty Insurance Company, which was acquired in January, to compliment the A- rating of Transverse Insurance Company. Transverse is now able to offer A- rated paper to their MGA and program partners for both admitted and non-admitted business.
“We have put in the hard work to build the ideal solution for sophisticated, innovative MGAs and Program Administrators – as well as a conservative and supportive partner for the global reinsurance market,” said Erik Matson, Co-Founder and CEO of Transverse. “We will continue to expand the capabilities of Transverse so that we can meet the needs of any program, in any line of business, in any geography”.
“Transverse is actively signing program agreements despite the uncertain environment,” David Paulsson, Co-Founder and President, stated. “We continue to see high quality and differentiated program partners across most lines of business, and expect to ramp up premiums in line with our long-term targets”.
Transverse Insurance Group is a hybrid fronting carrier serving the program, MGA and reinsurance markets with offices in New York, New Jersey and Texas. Transverse is backed by Virgo Investment Group and partner investors. Founded in 2018 by Erik Matson, CEO, and Dave Paulsson, President and CIO, Transverse is a global facilitator connecting and enabling partners through access to risk capacity and alternative capital on admitted and surplus lines paper. Solutions oriented carrier providing multi-lines of business with risk management, underwriting, claims, reinsurance and compliance to fit the objectives of their partners. For more information, please visit www.transverseinsurance.com
About Virgo Investment Group
Founded in 2009, Virgo is a thematic investor with the mission of building meaningful businesses. Virgo partners with Founder-led or Family-owned businesses where both existing owners and management have a material equity stake in the business. Virgo targets companies undergoing industry or company-specific change, which are executing on an identified inflection point in value. Virgo has flexible capital that allows the Firm to provide differentiated solutions. Virgo is an actively engaged investor, driving value-add initiatives post-investment via a focus on human capital transformation, business process enhancement, and technology implementation through the Firm’s Spica Alpha Unit. The Firm has invested over $1.7 billion, completing 55 investments to date. For more information, please visit www.virgo-llc.com
Contact for Transverse Insurance Group:
Head of Business Development
Transverse Insurance Group, LLC