With Richmond, Va., continually growing as an excess and surplus lines insurance hub, the newest E&S carrier to set up shop there will distinguish itself with a "contrarian underwriting strategy," the company's chief executive says.
"Even within E&S markets, you see a flight to quality where E&S companies start to favor more preferred business, and it sometimes makes it more challenging for a broker to place a tougher risk," said Michael Kehoe, president and chief executive officer of Kinsale Insurance, a company that will, he promises, have a "healthy appetite for distressed" small-to-midsize risks.
Kinsale Insurance entered the market in March with $66 million of capital from private equity investors, an "A-minus" rating from A.M. Best and a team of more than 40 veterans of the E&S business.
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