Expanding horizons: AM Specialty Insurance Group’s strategic moves in specialty insurance

Closely monitoring key trends in the market has given AM Specialty Insurance Group a competitive edge.

In the competitive realm of specialty insurance, AM Specialty is making significant strides with strategic expansions and proactive market strategies under the leadership of Shevawn Barder as CEO.

Drawing from her extensive background, that began at Lloyd’s of London and includes founding and selling a managing general agent (MGA), Barder spoke to Intelligent Insurer to provide insight into the acquisition by AM Holding Company, parent company of AM Specialty Insurance Company (ASIC) and AM RE Syndicate, of Pinpoint Insurance Solutions.

Barder brings a wealth of experience to her role, having already co-founded multiple insurance ventures. 

“Based in Dallas, Texas, our group oversees a portfolio of insurance companies specialising in niche markets,” she explained. 

Barder has a deep understanding of industry nuances and strategic foresight, which she has put to good use for AM Specialty’s expansion.

Expansion through acquisition

“I started my career in Lloyd’s of London as an insurance broker and have worked with my husband Simon Barder for over 20 years,” Barder said. 

“We’ve launched a number of companies, and we’re now based in Dallas, Texas, with a group of insurance companies.”

Barder is very passionate about the future, explaining: “This year has been remarkable for AM Specialty: we are well into our second year of trading for ASIC, our insurance company, and we’ve had our AM Best A- rating reaffirmed.” 

“We have solid traction in what is still a hard market,” Barder commented.

“Our strategic vision at AM Specialty is centred around expanding our footprint in specialty insurance while enhancing our capabilities to deliver tailored solutions.”

AM Holding Company completed the acquisition of Pinpoint Insurance Solutions in April and Barder elaborated on the rationale of taking on the specialist excess and surplus lines business.

“This acquisition significantly expands our product offerings and enhances our service capabilities in the US,” she said. 

“The establishment of Pinpoint UK in London further bolsters AM Specialty’s international presence, poised to begin operations in September 2024,” she added. 

Barder explains the strategic benefits: “The decision to acquire a direct underwriting platform in Pinpoint was driven by our goal to enhance our specialised insurance offerings and expand our market reach; we’ll have the ability to access more high quality primary business. 

“By integrating their capabilities, we can provide more comprehensive and tailored solutions to our clients,” she predicted.

Paying attention to the market

AM Specialty remains proactive in navigating dynamic market conditions, not least because Barder spends time identifying key areas of focus. 

“Our combined expertise and resources position us well to navigate the evolving landscape of the specialty insurance market.” Shevawn Barder, AM Holding Company

“We closely monitor several key market conditions, including regulatory changes in the insurance market and shifts in economic conditions that affect exposures,” she explained. 

Barder cited the elections coming up in the US, the UK and France which would have significant economic implications, and moved on to emerging trends and technology that would impact the industry.

“We’ve seen heightened regulatory scrutiny on the insurance market as it continues to expand, particularly as the market has turned the corner after the COVID-19 pandemic,” she explained. “Rising inflation has negatively impacted the cost of claims, particularly within property and casualty and personal lines.

“Companies that can harness Big Data and artificial intelligence to bolster their administration and claims management processes will be able to outperform their peers in the market,” she added.

“AM Specialty is well positioned to write business as an insurer or as a reinsurer, and offers in-house services such as data analytics, reporting, and claims management, and now a primary underwriting platform.

“We also pay close attention to competitive dynamics within the specialty insurance sector and evolving client needs, particularly in the niche markets where we operate.”

Looking ahead

Barder highlighted the importance of collaboration across the market. “We focus on maintaining strong relationships with our brokers and our clients to ensure we continue to meet their evolving needs effectively and efficiently,” she said.

“We’re particularly attentive to trends that help us identify where the increasing demand for customised insurance solutions is occurring, and what we can do best to participate.”

Barder is “extremely excited” about the future and the new opportunities arising from AM Specialty’s acquisition of Pinpoint.

“The integration of the Pinpoint MGA into the group marks a very significant milestone in our journey, and will drive greater innovation and better value for our clients,” she said.

“We have a team of talented people who support our group of companies and an excellent corporate culture where every person is recognised for their important contribution.

“Our combined expertise and resources position us well to navigate the evolving landscape of the specialty insurance market, and to continue delivering exceptional solutions to our partners,” she concluded.

Shevawn Barder is the chief executive officer of AM Holding Company. She can be contacted at: shevawn.barder@amspecialty.com

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