San Diego, Calif.-based Align Financial Group LLC. has formed Catalytic Holdings LLC, a specialist property catastrophe underwriting manager, and Catalytic has acquired the property catastrophe business of Align General Insurance Agency, LLC and all of the stock of Western Re Managers Insurance Services Inc.
Catalytic is merging the existing teams and businesses and plans to acquire additional property catastrophe companies and assets over time to create a major new property catastrophe insurance industry player.
Catalytic represents syndicates at Lloyd’s of London as well as international and domestic carrier partners to write stand-alone commercial earthquake DIC and terrorism risks. Catalytic has 25 employees and offices in San Diego and Los Angeles, California and Chicago, Ill.
Former Collins Associates CEO and Guy Carpenter Americas Chairman Pat Denzer has joined Catalytic as chairman of the Board of Directors.
Align is a Delaware domiciled insurance holding. The company owns Align General Insurance Agency LLC, which began operating as a general agency/ program underwriting manager in early 2005. Align formed Personable Holdings Inc. as a specialty non-standard auto insurance provider to independent agents in 2011 and currently writes commercial property, construction risks, commercial transportation and workers’ compensation insurance programs on an admitted and surplus lines basis on behalf of commercial lines insurers.
Western RE is a California domiciled insurance agency. The company is headquartered in Los Angeles, with an underwriting office in Chicago.
Topics Mergers & Acquisitions Property
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