SAN DIEGO--(BUSINESS WIRE)--
Align Financial Group, LLC. (Align) today announced that it has formed Catalytic Holdings, LLC (Catalytic or the Company), a specialist property catastrophe underwriting manager. Catalytic has acquired the property catastrophe business of Align General Insurance Agency, LLC and 100% of the stock of Western Re Managers Insurance Services, Inc. (Western RE). The Company is merging the existing teams and businesses and plans to acquire additional property catastrophe companies and assets over time to create a major new property catastrophe insurance industry player.
“The Align and Western RE underwriting teams share a desire to create an extraordinary property catastrophe underwriting business that will deliver an enhanced value proposition to our wholesale customers and carrier partners,” said Kieran Sweeney, CEO of Align and Catalytic.
“We wanted to take our business to the next level in partnership with like-minded, high integrity people,” states Ian Fitt, CEO of Western RE and Vice Chairman of Catalytic. “We are excited that we achieved that goal and, in the process, we have created the most dynamic team in the DIC market. We have combined over 42 years of brand integrity with access to the capital and transactional skills we will need to build an even more significant property catastrophe insurance business going forward,” he continued.
Catalytic represents leading syndicates at Lloyd’s of London as well as international and domestic carrier partners to write stand-alone Commercial Earthquake DIC and Terrorism risks. The Company has 25 employees and offices in San Diego and Los Angeles, California and Chicago, Illinois. Former Collins Associates CEO and Guy Carpenter Americas chairman Pat Denzer has joined Catalytic as Chairman of the Board of Directors.
Align Financial Group, LLC. is a Delaware domiciled insurance holding company headquartered in San Diego, California. The Company owns Align General Insurance Agency, LLC, which began operating as a general agency/ program underwriting manager in early 2005. Align formed Personable Holdings, Inc. as a specialty non-standard auto insurance provider to independent agents in 2011 and currently writes Commercial Property, Construction Risks, Commercial Transportation and Worker’s Compensation insurance programs on an admitted and surplus lines basis on behalf of leading commercial lines insurers.
About Western Re
Western RE Managers Insurance Services, Inc. (“Western RE”) is a California domiciled insurance agency that was incorporated in 1971. The Company is headquartered in Los Angeles, California with an underwriting office in Chicago, Illinois. Western RE has spent more than 40 years building a reputation as a leading specialist Commercial Earthquake DIC market in the U.S. and currently represents leading syndicates at Lloyd’s of London and Sirius Insurance Company.
- Investment & Company Information
Catalytic Holdings, LLC
Kieran Sweeney, 619-333-2501