13 May 2022Reinsurance

Ryan Specialty launches new transportation captive

Ryan Specialty has created what it calls an innovative solution to the challenging buffer layer auto liability excess market.

AXSAL Re is a member-owned group captive managing general underwriter designed specifically for transportation companies or other insureds with large fleets. AXSAL Re is managed by Keystone Risk Partners, Ryan Specialty’s leader in alternative risk placements. AXSAL Re is distributed through insurance brokers and agents.

“The team at Keystone Risk Partners has developed AXSAL Re to provide value and innovation to this distressed market,” said Kieran Dempsey, chief underwriting officer of Ryan Specialty and president of Ryan Alternative Risk. “This auto liability managing general underwriter is focused on offering an alternative solution to traditional insurance, allowing insureds buffer layer stability for the balance of the excess tower that follows. It is an innovative solution at the right time in the market.”

Andy Lewis, chief executive of Keystone Risk Partners, added, “We are very excited for this offering and know that it is the right solution for many transportation and large fleet companies. The state of the excess commercial automobile market is strained and is demanding alternatives for their insurance. AXSAL Re is an interesting and innovative option that has been developed from this strong need.”