Orion180 Insurance Co. Places $455 Million Reinsurance Arrangement

In Midst of Hard Market, Backstop Supports Aggressive Growth Strategy in Southeast Personal Lines Markets

MELBOURNE, Fla.--(BUSINESS WIRE)--
Orion180, a premier provider of insurance solutions founded in 2016, has successfully filled their $455 million excess-of-loss (XOL) reinsurance tower for first- and second-event coverage this hurricane season for its Orion180 Insurance Co. homeowners business. In addition to the XOL tower placement, Orion180 was able to place a 75% net quota share agreement. The strategic placement enables Orion180 to continue their substantial personal lines premium growth across the Southeast.

Orion180 Insurance Co., a subsidiary of the Orion180 Group Inc., underwrites homeowners insurance in Alabama, Mississippi, North Carolina, and South Carolina as an excess-and-surplus lines insurance carrier. The global reinsurance panel, led by Arch Re, encompasses 43 other reinsurers, including multiple Lloyd’s syndicates.

“With their dedication to customer satisfaction, personalized policyholder solutions and a focus on innovation, Orion180 is a partner to whom we have dedicated our time and capital in this challenging property cat reinsurance market,” says Matt Dragonetti, president and head of property for Arch Re.

“This reinsurance arrangement supports Orion180’s strategy of aggressively serving Southeastern United States markets with quality homeowners insurance products and outstanding customer experience,” says Kenneth Gregg, CEO and founder of Orion180.

“The recent and continued upheaval in the property insurance markets, especially in the Southeast, makes this new reinsurance capacity meaningful for our independent agency partners,” Gregg adds. “The additional reinsurance capacity speaks to the financial strength of the company and serves as a signal that Orion180 is open for business ready to serve customers in these catastrophe-exposed markets, and is on a continued growth track.”

About Orion180

Orion180 is a people-focused, technology-driven insurance brand that offers proprietary technology, real-time data, and straightforward underwriting enabling independent insurance agents to provide their customers a premier insurance experience.

Orion180’s operating companies are:

• Orion180 Insurance Co., a surplus lines (non-admitted) insurance company domiciled in Indiana.

• Orion180 Select Insurance Co., an admitted insurance company domiciled in Indiana.

• Orion180 Insurance Services LLC, a managing general underwriter that partners with carriers and reinsurers to deliver homeowners insurance and other insurance solutions.

Orion180 has developed its own proprietary mobile application and technology platform, MY180, while also supporting third-party data integrations with insurance industry partners.

Orion180’s vision is to enhance the way consumers purchase and manage their insurance needs. Innovation in technology enables us to do MORE as we harness the power of our cutting-edge proprietary technology. Innovation in service is the catalyst allowing us to give MORE and achieve the highest level of customer care. Our innovation in culture fosters an environment that empowers us to be MORE. This innovation-focused ecosystem enables our customers to expect MORE.

Orion180.com

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Orion180, Junie Lopez
321.294.5992, [email protected]

Source: Orion180