MS Transverse CEO steps down

MS Transverse Insurance Group, a hybrid fronting carrier in North America and a subsidiary of MSIG Holdings (MSIGH) has announced that co-founder and chief executive Erik Matson will voluntarily be stepping down from his active role at the company and transition to vice chairman. President and co-founder David Paulsson will become chief executive and CFO John Fitzgerald will be promoted to president.

MS Transverse said that under Matson’s leadership the company has been a pioneer in the “hybrid fronting” program carrier model, where the market size has grown to over $14 billion in annual premium in the United States. It added that with over 100 reinsurers and dozens of the largest and most sophisticated program manager and managing general agent partners participating in its business, MS Transverse looks to sustain its status in the years to come.

“Transverse will always be part of Erik’s legacy and a testament to his vision and leadership,” said Paulsson. “His continued counsel will be an asset to the company as Vice Chairman. We ended 2023 in the enviable position of significant increases in top and bottom-line performance while delivering sector leading underwriting results. We look forward to building on our momentum and market position in the hybrid fronting space with the support of our MGA and reinsurance partners, as well as the formidable capabilities of MSIG.” 

Matson commented: “Now is the right time for me to pass the torch to Dave and the amazing team we have built these past 6 years. I look forward to continuing to support MS Transverse in my new role. I have not decided what I will be doing next, but I will cheer on MSIG and MS Transverse as they are on the path to another great year!”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.