Aegis Energy Announces Partnership with Everspan Group for new Excess Program for Petroleum Gasoline Haulers

Business Wire

CONWAY, Ark.--(BUSINESS WIRE)--
Aegis Energy, a division of Aegis General Insurance Agency and K2 Insurance Services, announces today a partnership with Everspan Group, the AM Best rated A- (Excellent) carrier, to launch a new Excess program for Petroleum Gasoline Haulers.

This Excess program is specifically designed to meet the needs of retail and wholesale Petroleum Gasoline Haulers engaged in petroleum and propane product distribution. Offering up to $4 million in excess coverage, the program is available nationwide, except for Massachusetts, Hawaii and Alaska. This non-admitted product provides enhanced flexibility for retail agents, enabling them to effectively address the unique risks faced by their petroleum industry clients.

"We are excited to launch this new Excess program in partnership with Everspan Group, a leader in the insurance sector," said Doug Strange, President of Aegis Energy. "This collaboration represents a significant step forward for Aegis Energy, as it allows us to provide enhanced risk management solutions for petroleum and propane distributors. Everspan's strong market presence and commitment to excellence align perfectly with our mission to deliver exceptional coverage and service to our clients across the U.S."

Darwin Lucas, Chief Underwriting and Reinsurance Officer at Everspan, added: “At Everspan, we seek partners who have unparalleled expertise and who share our commitment to underwriting excellence. Aegis Energy fits that bill. Doug and his team are top-notch underwriters, and their laser focus on downstream petroleum product distribution uniquely positions them to create innovative insurance solutions for their sector. This Excess program is an example of that, and we are thrilled to partner with them on it.”

About Aegis Energy:

Aegis Energy, by Aegis General Insurance Agency, specializes in providing comprehensive insurance and risk management solutions tailored for the downstream petroleum product distribution sector. With a primary focus on enterprises involved in the wholesale and retail sale of petroleum and propane including common carriers, Aegis Energy also offers ancillary solutions for rural retail home heating oil distribution, as well as the hauling of bulk oil, used oil, crude oil, and salt water. Founded by a team with deep underwriting and risk engineering expertise, Aegis Energy delivers exceptional service and innovative solutions to meet the unique needs of our clients.

Aegis Energy is a K2 Insurance Services brand.

About K2 Insurance Services:

K2 Insurance Services is an insurance services holding company that owns and controls a diverse set of MGAs, marketing, underwriting and servicing nearly $2 billion annually in niche commercial and personal insurance premiums. Our mission is to protect what matters most to our partners and clients through personalized and specialty insurance products by distributing innovative programs and products through trusted direct, retail and wholesale channels. Formed and led by successful insurance industry veterans and backed by Warburg Pincus, K2 is leading the way with specialty insurance programs.

About Everspan Group:

Everspan Group is a specialty property and casualty insurance platform that operates nationwide on an admitted and non-admitted basis. The companies that comprise the Everspan Group are wholly owned subsidiaries of Ambac Financial Group, Inc. (NYSE: AMBC), an insurance holding company. For more information, please refer to www.everspangroup.com.