WARREN, N.J.,
May 15,
2024 /PRNewswire/ -- MS Transverse Insurance Group,
LLC ("MS Transverse"), a leading hybrid fronting carrier in
North America and a subsidiary of
MSIG Holdings (U.S.A.), Inc.
("MSIGH") today announces that co-founder and CEO, Erik Matson will voluntarily be stepping down
from his active role at the company and transition to Vice
Chairman. President and co-founder David Paulsson will assume
the CEO role and CFO John Fitzgerald
will be promoted to President.
Under Matson's leadership, MS Transverse (formerly Transverse
Insurance Group) has been a pioneer in the "hybrid fronting"
program carrier model, where the market size has grown to over
$14 billion in annual premium in
the United States alone. The firm
achieved remarkable growth and cemented its status as the premiere
carrier in the market with its sale to MSIGH in 2023. With over 100
reinsurers and dozens of the largest and most sophisticated program
manager and managing general agent partners participating in its
business, MS Transverse looks to sustain its status in the years to
come.
David Paulsson stated:
"Transverse will always be part of Erik's legacy and a testament to
his vision and leadership. His continued counsel will be an asset
to the company as Vice Chairman. We ended 2023 in the enviable
position of significant increases in top and bottom-line
performance while delivering sector leading underwriting results.
We look forward to building on our momentum and market position in
the hybrid fronting space with the support of our MGA and
reinsurance partners, as well as the formidable capabilities of
MSIG."
From Erik Matson: "Now is the
right time for me to pass the torch to Dave and the amazing team we
have built these past 6 years. I look forward to continuing to
support MS Transverse in my new role. I have not decided what I
will be doing next, but I will cheer on MSIG and MS Transverse
as they are on the path to another great year!"
About MS Transverse:
MS Transverse refers to MS Transverse Insurance Group, LLC and
its underwriting and management subsidiaries. MS Transverse is a
hybrid fronting carrier serving the program, managing general
agent, and reinsurance markets with offices in New York, New
Jersey and Texas. MS
Transverse is a subsidiary of Mitsui Sumitomo Insurance Group
and part of MS&AD Insurance Group Holdings. Founded in 2018 by
Erik Matson, CEO, and Dave
Paulsson, President, MS Transverse is a global facilitator
connecting and enabling partners through access to risk capacity
and alternative capital on admitted and surplus lines paper. For
more information please visit www.mstransverse.com.
About MSIGH:
MSIGH refers to MSIG Holdings (U.S.A.), Inc. MSIGH is a US-based subsidiary
of MS&AD Insurance Group Holdings, Inc., one of the world's top
P&C carriers with a global reach that spans 40+ countries and
regions. To learn more, visit www.msig-na.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ms-transverse-ceo-matson-transitions-to-vice-chairman-paulsson-appointed-ceo-302146442.html
SOURCE MS Transverse Insurance Group