I–RE enters commercial property line with Fortegra capacity

I–RE, a specialist captive insurance and reinsurance managing general underwriter (MGU), has entered a new line of business – commercial property – starting July 1.

The company has added commercial property to its RE–PAID product alongside its workers’ compensation and commercial auto offering.

The move follows a strategic capacity partnership with global specialty insurer Fortegra for general liability.

I–RE claims that until now there has been “no viable A rated mid-market captive solution available” for the commercial property line of business. “Not even group captives have been able to provide property as an option,” it stated.

Andy Jeckells (pictured, left), co-chief executive of I–RE, said: “The RE–PAID product continues to break new ground. I–RE has committed itself to providing solutions that give high-performing, mid-market businesses more control over their risks and a share in the underwriting profits of the kind that only large captives currently enjoy.”

“We are seeing exceptional demand for RE–PAID from brokers, who see the benefit of offering their clients across the United States the solution they’ve been looking for whilst improving their own revenues and increasing client retention.”

Kyle Selvig (pictured, right), director commercial underwriting of Fortegra, said: “We are excited to extend our partnership with I–RE to further support its truly innovative RE–PAID product and help fulfil the long-underserved need of mid-market businesses for a captive property insurance solution.”

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