Houston International Insurance Group (HIIG) announced today that it would enter into a new Partnership with Energi Insurance Services based in Peabody, Massachusetts to provide a captive insurance solution for energy clients wanting alternative insurance coverage.
Energi is a managing general agency providing insurance and technology driven risk solutions to energy related industries. Target classes include fuel distribution, energy transport, energy construction, utilities, renewable energy, and agricultural cooperatives.
Coverages provided are auto liability, general liability, excess liability, and workers compensation. eCaptiv LLC is based in Vermont and funded by client participation. Significant excess reinsurance will be provided above captive retentions.
Stephen L. Way, Chairman and Chief Executive Officer of HIIG, said, “We are pleased to have reached this agreement in principal with Energi and look forward to working with their very experienced management team and captive clients in building a best-in-class facility.”
Brian McCarthy, Chief Executive Officer of Energi, said, “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 bringing HIIG and Energi together for this relationship and, in addition, is the financial advisor for mezzanine financing for Energi through its affiliated company Stonybrook Capital.
HIIG is an insurance holding company formed in 2007 by Stephen L. Way, a leader in insurance for more than 50 years. Based in Houston, Texas, HIIG continues to build long term shareholder value through creative but disciplined underwriting, acquisitions, and strategic investments.
HIIG has underwriting segments focused on Accident & Health, Commercial, Excess & Surplus Lines, and Specialty. HIIG has total assets exceeding $1.5 billion and shareholders’ equity of more than $325 million.
HIIG’s subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A/A- (Excellent) by A.M. Best Company.
