Delos Insurance Group expects its joint venture with Avoca Insurance Holdings to form an underwriting management company will enhance Delos’ underwriting and service capabilities in the specialty casualty excess and surplus lines (E&S) market.
Under terms of the agreement, the new company, Naxos Avondale Specialty Casualty Inc., will be the exclusive excess and surplus lines underwriting manager for Naxos Insurance Co., the wholly owned E&S subsidiary of Delos Insurance Group. Naxos Avondale will primarily write a broad range of casualty classes with a focus on small to mid-sized specialty casualty lines of business.
“For a strong underwriting company, the specialty casualty segment presents excellent long-term value creation opportunities,” says Chris Maciejewski, who will be president and CEO of the company. “At Naxos Avondale, our core underwriting approach is based on developing solutions for niche segments supported by our considerable product depth.”
David Lewis also joins Naxos Avondale as chief underwriting officer. Naxos Avondale is headquartered in Boston, and business will be sourced through wholesale brokers. The company will work closely in its distribution efforts with Avoca subsidiary Avondale Insurance Associates, led by Peter Coghlan.
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