Texas-based insurance holding company Houston International Insurance Group (HIIG) is set to enter into a partnership with Massachusetts-based managing general agency Energi Insurance Services, to provide a captive insurance solution for energy clients.
Energi's target classes include fuel distribution, energy transport, energy construction, utilities, renewable energy, and agricultural cooperatives.
Coverages provided by the captive solution include auto liability, general liability, excess liability, and workers compensation.
eCaptiv is based in Vermont and funded by client participation. Significant excess reinsurance will be provided above captive retentions.
“We are pleased to have reached this agreement in principle with Energi and look forward to working with their very experienced management team and captive clients in building a best-in-class facility,” said Stephen Way, chairman and CEO of HIIG.
Brian McCarthy, CEO of Energi, added: “We are pleased to have HIIG as our partner for the energy group captive programs. HIIG’s depth of resources will be extremely beneficial to the members and the long-term success of these programs.”
Stonybrook Risk Management was responsible for facilitating this partnership and is also the financial advisor for mezzanine financing for Energy through its affiliated company Stonybrook Capital.
HIIG, Energi, Captive, Energy, North America