Aurenity to enter Excess Casualty market with senior HCC hire
New tech-enabled E&S MGA Aurenity announces its entry into the excess casualty market with the hire of Janet Beaver from Tokio Marine HCC. Beaver joins Aurenity as Executive Vice President where she is responsible for the launch and management of excess casualty, the MGA's first product. She was previously National Business Unit Leader for Excess Casualty at Tokio Marine HCC, where she was tasked with successfully re-underwriting legacy portfolios and managing the book to profitability. She brings over 25 years of experience in the surplus lines’ excess casualty market, beginning her career at Gen Star. In news announced this week, Beaver is also incoming Chair of the California Surplus Lines Association. The appointment comes on the heels of Chicago based investor Agman announcing Aurenity's launch in January with $10m of seed funding and the appointment of former Brit executive and current Agman Operating Partner Nick Davies as CEO. Former Traveler's executive Pat Safino also joined as COO.
Commenting on the hire Davies said "Janet has the underwriting pedigree and distribution experience to scale this product profitably. We are marrying market leading talent with cutting-edge underwriting analytics to deliver a better view of risk. Her caliber underlines our strategic intent." • Beaver is Los Angeles based • Negotiations underway with capacity providers for a potential Q3 launch • Ongoing Excess Casualty market dislocation • Federal infrastructure bill and inflationary pressures will continue to add demand • Product will be exclusively wholesale distributed • Aurenity build out continuing apace with additional products under consideration • Positive market reception to tech enabled but expertise led strategy
About Aurenity
Aurenity is blending market leading talent with cutting edge underwriting analytics to deliver a new MGA for the E&S market. We were founded by underwriting entrepreneurs and technology experts with a shared love of data and a common interest in industry innovation. We are building a tech-enabled platform to deliver sustainable profit for our carriers and best in class service for our brokers over the market cycle. Aurenity will deliver sophisticated risk insight and portfolio management tools to make smarter underwriting choices. Underwriting performance and distribution scale are not mutually exclusive, we believe they should be symbiotic with the right view of risk. There is a better way and Aurenity is leading it.
About Agman
Agman leverages its permanent capital base to partner with exceptional entrepreneurs building enduring businesses. Since its humble origins nearly a century ago, Agman has grown into one of the largest family-owned investment firms in the United States, with thousands of employees, activities across the country, and expertise in a range of industries. Agman’s portfolio includes hospitality, real estate, crypto and insurance. They are the principal investor in Omaha National, a leading provider of Worker’s Compensation Insurance; Virtus, a fast-growing specialty retail broker and Aurenity, a newly launched tech-enabled MGA in the E&S market.
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