Emerald Bay Risk Solutions LLC said Thursday it will begin managing general agent programs within the excess and surplus markets with the strategic investment of Bain Capital Insurance, a dedicated insurance investment unit of Bain Capital LLC.
A company spokesperson described Emerald Bay as a “special event carrier” in an email.
Emerald Bay is led by CEO Dave Ingrey and Chief Risk Officer Miles Olkins, the company said in a statement.
Chris Hill will serve as chief financial officer and chief operating officer, John Lucking will be chief technology officer and Emily Minor will be general counsel, the statement said.
George Dragonetti will lead property underwriting, Ken Sharp will head the casualty insurance department, and Ken Ingrey will head business development.
Emerald Bay Specialty Insurance Company, an Arizona-domiciled hybrid fronting company operating in the surplus lines market, whose ultimate parent is Emerald Bay Risk Solutions LLC, was rated A- (Excellent) and a long-term issuer financial rating on Thursday. Strength rating was given. Credit rating of A-(Excellent) by AM Best & Company.
