Dellwood Insurance Group

Background

Dellwood Insurance Group, established in March 2024, is a nationwide excess and surplus (E&S) lines insurance holding company dedicated exclusively to wholesale brokers, with a particular emphasis on small and middle enterprise (SME) risks. The company's mission is to provide specialized insurance solutions tailored to the unique needs of SMEs, leveraging advanced technology and deep industry expertise to enhance underwriting precision and operational efficiency.

Key Strategic Focus

Dellwood's strategic focus centers on:

• Specialization in SME Risks: Concentrating on hard-to-place small commercial risks within the E&S market.

• Technology-Driven Underwriting: Implementing innovative technology to streamline underwriting and claims processes.

• Exclusive Wholesale Distribution: Partnering solely with wholesale brokers to ensure targeted and efficient market penetration.

Financials and Funding

At its inception, Dellwood secured over $250 million in capital, surpassing initial targets. This funding was sourced from a consortium of investors, including:

• Institutional Investors: RenaissanceRe, PartnerRe, Starr Insurance, and Central Insurance.

• Individual Investors: Notable figures such as Dominic Addesso, David Delaney, VJ Dowling, Jim Hays, and principals from Stone Point Capital.

The capital is intended to support Dellwood's growth initiatives, technological advancements, and market expansion strategies.

Technological Platform and Innovation

Dellwood differentiates itself through a technology-enabled model designed to:

• Enhance Underwriting Accuracy: Utilizing advanced data analytics and proprietary algorithms to assess and price risks more effectively.

• Streamline Operations: Automating routine processes to improve efficiency and reduce operational costs.

• Improve Broker and Customer Experience: Offering user-friendly platforms for seamless interactions and transactions.

Leadership Team

Dellwood's leadership comprises seasoned industry professionals:

• Michael Price, CEO: Formerly CEO of North America General Insurance at AIG, with prior leadership roles at Arch and The Hartford.

• Kean Driscoll, President and Chief Underwriting Officer: Previously Global Chief Underwriting Officer for General Insurance at AIG, with experience at Validus Group and Quanta Capital Holdings.

• Thomas Connolly, CFO: Former Chief Financial Officer of AIG's North America General Insurance.

Additionally, Dominic Addesso, former President and CEO of Everest Re, serves as Dellwood's Non-Executive Chairman.

Leadership Changes

Since its formation, Dellwood has maintained a stable leadership team, with no significant changes reported.

Competitor Profile

Market Insights and Dynamics

The E&S insurance market has experienced substantial growth, doubling in size since 2018. This expansion is driven by increased catastrophic activity and pressures from social and economic inflation.

Competitor Analysis

Key competitors in the E&S market include:

• American International Group (AIG): A major player in the E&S sector, offering a broad range of products and services.

• Lloyd's of London: A global insurance and reinsurance market known for underwriting complex and high-risk policies.

• Markel Corporation: Specializes in niche markets, providing innovative insurance solutions.

These competitors have established market presence and extensive product offerings, posing challenges to new entrants like Dellwood.

Strategic Collaborations and Partnerships

Dellwood's strategic partnerships with leading reinsurers and investors provide:

• Financial Strength: Robust capital backing to support underwriting capacity and growth.

• Industry Expertise: Access to a wealth of knowledge and experience from established market leaders.

• Market Credibility: Enhanced reputation and trust among brokers and clients.

Operational Insights

Dellwood's operational strategy focuses on:

• Leveraging Technology: To gain a competitive edge through efficient processes and data-driven decision-making.

• Targeted Market Approach: Concentrating on SME risks to fill gaps left by larger insurers.

• Exclusive Broker Relationships: Building strong partnerships with wholesale brokers to ensure focused distribution.

Strategic Opportunities and Future Directions

Looking ahead, Dellwood aims to:

• Expand Product Offerings: Developing new insurance products tailored to emerging SME needs.

• Enhance Technological Capabilities: Investing in AI and machine learning to further refine underwriting and claims processes.

• Grow Market Share: Increasing presence in the E&S market by leveraging strategic partnerships and operational efficiencies.

Contact Information

For more information, visit Dellwood Insurance Group's official website.