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Target Markets Program Administrators Association Carriers Praetorian Financial Group Praetorian Financial Group is a new name in U.S. specialty insurance. As the latest member of the Hannover Re Group, the world’s fourth largest reinsurance group, Praetorian is well capitalized and broadly licensed, and offers a wide array of innovative products. Praetorian is a start-up with a running start: “With a significant infusion of fresh capital from our parent, Hannover Re, ongoing reinsurance support, excellent producer relationships, broadly licensed companies unencumbered by legacy issues, and a select group of specialty business totaling $2 billion in annual gross written premium, it’s like being born on the 50 yard line,” says Praetorian’s CEO Rod Fox. Businesses, both small and large, as well as individuals, are already discovering that, when it comes to specialty insurance, Praetorian is a superior choice for commer-cial auto, workers comp, commercial property, professional liability, general liability, inland marine and various other lines of business. Praetorian combines its deep underwriting knowledge with that of its underwriting partners to develop innovative specialty products. Praetorian emphasizes that it is not in the program business, but rather in the partnership business. “Programs come and go. We are interested instead in building mutually profitable, long-term partnerships with our producers,” says Susan Rivera, Praetorian’s president and chief underwriting officer. “We recognize that for partnerships to last over the long term, they must be profitable for everyone involved: the carrier, the broker, the reinsurers and our general agent partners,” adds Rod Fox, Praetorian’s CEO. Praetorian is the new breed of specialty insurer, unencumbered by an extensive network of branch offices or conflicting distribution systems. Praetorian’s specialty portfolio is well balanced and quite diverse in terms of geographic distribution, customer type and risk type. With more than $2 billion in annual premium revenue, Praetorian leads and specializes in writing short-and mid-tail middle market specialty business, specialty lines and niche business. Praetorian Financial Group is based in New York City, with offices in Chicago, Nashville, Kansas City (Kansas) and Omaha, and includes Praetorian Insurance Company (formerly Insurance Corporation of Hannover) and Redland Insurance Company. Additionally, Praetorian recently entered an agreement to purchase surplus lines insurer Alea North America Specialty Insurance Company, whose name will be changed to Praetorian Specialty Insurance Company, pending regulatory approval. Praetorian’s brand attributes are strength, stability and relentless innovation. Praetorian’s strength is reflected in its financial ratings: Praetorian’s stability is exemplified by the fact that over one-third of its portfolio is the result of 10+ year partnerships. The management team averages more than 20 years of insurance industry experience each. Praetorian’s innovation can be seen in its creative but disciplined approach to underwriting, speed to market, service, and best-in-class information systems. “We continually challenge ourselves as we move toward best practices in all areas,” Fox concludes. Praetorian markets throughout the 50 states on both an admitted and nonadmitted basis. For more information, go to www.praetorianfinancial.com or contact the company at: |
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