Global Indemnity Group, a leading provider of specialty property and casualty insurance, has announced that its subsidiary Penn-America Underwriters, LLC (PAU) is launching its first reinsurance managing general agency (MGA).
The new venture is being established in partnership with reinsurance executive George Dragonetti, who will serve as president of the new unit, according to InsurTech Insights.
The launch of this reinsurance MGA marks a strategic step forward for Global Indemnity Group as it strengthens its presence in the reinsurance sector.
The company aims to broaden its specialty capabilities and drive further growth through enhanced product diversification and innovation.
The newly launched reinsurance MGA will focus on developing customised reinsurance solutions and building a strong underwriting framework. By leveraging technology and industry expertise, the platform aims to enhance PAU’s ability to manage risk efficiently while delivering innovative products to the market.
Dragonetti’s appointment at the helm of the operation is expected to play a key role in shaping PAU’s reinsurance strategy and ensuring consistent performance across its specialty portfolio.
The company stated that this initiative aligns with Global Indemnity’s wider Manifest strategy, which focuses on expanding both its insurance and reinsurance capabilities. The move follows the recent appointment of Jason C. Murgio, principal and CEO of Merger & Acquisition Services, Inc., to Global Indemnity’s board of directors, further strengthening the company’s leadership depth.
Global Indemnity Group chairman Saul Fox said, “Partnering with George Dragonetti to establish this innovative MGA marks a strategic leap forward for our Manifest initiative, underscoring our commitment to expanding capabilities across both specialized insurance and reinsurance solutions.”
Penn-America Underwriters president and CEO Praveen K. Reddy said, “This launch represents a major milestone in our development as a specialty provider of insurance and reinsurance products and services. In partnership with George Dragonetti and with George at the helm, we are confident in our ability to drive innovation, growth, and superior underwriting performance for our new reinsurance platform.”
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