Insurance

Brace Underwriting announces US expansion

Jan 31, 2024 1 year ago

Newly launched business will mirror its London counterpart

By Mika Pangilinan

Jan 31, 2024 Share

Brace Underwriting Limited, a multi-line and alternative risk specialist underwriter backed by Beat Capital Partners, has announced the launch of Brace USA.

Headquartered in North Carolina, Brace USA will mirror its London counterpart and focus exclusively on binder business, excluding natural catastrophe, cyber, and long-tail liability. Glenn Dorr (pictured above) will take the helm as president and head of marketing, North America, reporting to group CEO Adam Holberry.

Dorr has over three decades of industry experience. His background includes senior distribution roles at Hiscox, Lloyd’s, and HCC Specialty. He was previously the head of distribution at Brace.

“We are tremendously excited to launch Brace USA and to stand shoulder to shoulder with our specialty MGA partners, offering them the strength, energy and domestic A-rated capacity to allow these entrepreneurs to grow their businesses in their chosen fields,” Dorr said in an emailed news release.

This expansion into the US comes as Brace approaches its four-year anniversary.

Since its establishment in October 2019 by Holberry, the firm has developed a notable presence as a capacity provider for alternative risk MGAs globally, achieving over $120 million in gross written premiums in 2023.

Holberry also commented on the launch, stating that their US expansion is the “natural next step” for the firm.

“Brace set out to provide support to the niche and alternative risk MGAs so often underserved by traditional P&C carriers,” he said. “Following four successful years, it is the natural next step to expand our footprint further into the US and partner with businesses with multi-class approaches and non-standard exposure, coupled with a compelling distribution advantage. With Glenn at the helm, supported by the wider Brace leadership team, I am confident that Brace USA will quickly find success.”

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