Upland Capital to offer E&S lines with $200M funding

Upland Capital Group Inc. said Monday that with $200 million in funding, it will offer a portfolio of excess and surplus lines casualty, property and specialty insurance products, with an initial focus on excess casualty products distributed through wholesale brokers.

Dallas-based Upland said it is being funded through an equity investment of up to $200 million from New York-based Newlight Partners LLP, a growth equity investor, and an additional investment from Upland’s executive management team.

Upland’s chairman, president and CEO is Todd C. Hart, who was most recently CEO of Pawtucket, Rhode Island-based Narragansett Bay Insurance Co. Its president of insurance operations and chief underwriting officer is James A. Damonte, who previously served in executive leadership roles at Fort Worth, Texas-based Hallmark Financial Services, among other companies.