A new managing general agency — Mission Select Insurance Services, LLC — has been formed in Texas with a focus on residential property.
Mission Select, based in Argyle, was formed with the backing of San Diego, Calif.-based K2 Insurance Services LLC, which invests in MGAs across the country.
Mission Select will underwrite business on behalf of highly rated insurers, marketing insurance coverage through Texas independent agents, according to the announcement.
Residential properties covered may range from tenant-occupied properties to half-million-dollar owner-occupied homes, the announcement said.
Mission Select will not impose credit scoring in evaluating properties and is focusing on residential properties in non-coastal areas. Expansion to additional areas and to other personal lines of insurance is expected in the future.
The company’s co-founders include Dave Lacefield, president of the new firm, and Chief Financial Officer Ashley Hunter.
A veteran of the insurance industry, Lacefield began his career as a homeowners’ insurance pricing analyst at USAA in 1977. Most recently he was executive vice president of National Lloyd’s Insurance Co. in Waco, Texas. He has also held executive positions with insurers GeoVera Insurance Holdings and Texas Select Lloyds Insurance Co., as well as earlier positions with CIGNA Corp. and Kidder, Peabody & Co. A member of the Casualty Actuarial Society and the American Academy of Actuaries, he recently served as vice chairman of the board of the Southwestern Insurance Information Service.
Hunter, a Certified Public Accountant, founded Hunter Alliance Group, which provides accounting and administrative consulting services to insurance firms. He has also held positions with insurance broker Aon Corp. and with accounting firms Ernst & Young and James Howard & Associates.
K2 was formed in 2011 with the backing of private equity fund Endeavour Capital, based in Portland, Ore.
Source: Mission Select Insurance Services