Firm Rated A- (Excellent) from AM Best in Financial Size VIII
Alpharetta, GA, XXXX, 2023 — Hadron, a groundbreaking hybrid insurer designed to help Managing General Underwriters (MGUs) accelerate progress, launched today with an A- (Excellent) rating from AM Best in Financial Size Category VIII. With more than $250M in capital support from Altamont and other institutional investors, Hadron intends to bring significant underwriting capacity to the growing program space.
Marrying best-in-class underwriting and portfolio management technology with reliable, long-term insurance capacity, Hadron is squarely focused on addressing the key pain points for specialty underwriting firms. With plans to offer capacity across all 50 US states and DC and to provide portfolio-wide reinsurance support, Hadron is delivering a unique offering to the market compared to traditional alternatives.
Founded earlier this year by a group of industry veterans with deep insurance, operational, technology, and financial experience, Hadron was established to drive the success of its specialty MGU partners. Hadron undertakes a disciplined yet pragmatic view of underwriting risk and works closely with its MGU partners and risk capital providers to design optimal, efficient structures that ensure both rapid paths to market and long-term stability.
“At a time where ongoing structural shifts in the commercial insurance industry continue unabated, alongside recent sensitivity to credit quality and sound operating principles, the dynamic landscape of the commercial insurance market calls for A-rated, licensed insurance capacity. Hadron is poised to make a profound impact by leveraging the management team’s unparalleled operational prowess and enduring industry alliances. Hadron will assume a pivotal role in satisfying the escalating needs of this burgeoning demand,” said Joe Zuk, Operating Partner at Altamont.
“Hadron is committed to raising the bar by delivering stability and service to our partners,” said Sam Gaynor, Managing Director at Altamont. “This commitment is more needed than ever as specialty underwriters have stepped up to fill voids in the insurance market — yet shocks to the carrier ecosystem have created uncertainty. We believe Hadron’s focus on underwriting excellence and financial soundness – backed by both the company’s processes and our capital support – is exactly what the market needs now.”
“The team’s deep experience and dedication to the needs of partners across the value chain make it uniquely suited to bring significant value to the market,” added Keoni Schwartz, Managing Director at Altamont. “The Company is well positioned to help accelerate growth for its future trading partners. Given our deep experience backing new insurance platforms, we are excited to be working alongside the Hadron team in building the business.”
Altamont was advised on the transaction by BMO Capital Markets Corp. as financial advisor and Sidley Austin LLP as legal counsel.
Contact
Jill Harding
jill@cmand.co
CMAND for Hadron