Former AIG executives Michael Price and Kean Driscoll announced the formation of Dellwood Insurance Group, a new nationwide excess and surplus lines insurance holding company dedicated exclusively to wholesale brokers with an emphasis on small and middle enterprise risks. The company is launching with over $250 million in capital.
Dellwood is backed by RenaissanceRe, PartnerRe, Starr Insurance, and Central Insurance, as well as individual investors including Dominic Addesso, David Delaney, VJ Dowling, Jim Hays, and principals from Stone Point Capital.
“Both Michael and Kean have proven track records building profitable underwriting businesses and successfully managing through varying market cycles. They are extremely well-respected in the P&C industry and the investor group is excited to back them in this venture.” – Dominic Addesso.
“The P&C industry is at an inflection point, and we are poised to actively participate in the most attractive insurance market conditions in over 20 years. Having access to the intellectual and financial firepower of our strategic investors will serve us and our broker partners well as we navigate the challenging E&S marketplace.” – Michael Price, Dellwood’s CEO.