Emerald Bay will launch E&S managing general agent backed by Bain

Emerald Bay Risk Solutions LLC Thursday said it would launch managing general agent programs within the excess & surplus markets with a strategic investment from Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital LLC.

A spokesman for the company described Emerald Bay as a “specialty program carrier” in an email.  

Emerald Bay is led by CEO Dave Ingrey and Chief Risk Officer Miles Allkins, the company said in a statement.

Kris Hill will serve as chief financial officer and chief operating officer, John Lucking will be chief technology officer, and Emily Miner will be general counsel, the statement said.

George Dragonetti will lead property underwriting, Ken Sharp will head the casualty insurance department, and Ken Ingrey will be head of business development.

Emerald Bay Specialty Insurance Co., an Arizona-domiciled hybrid fronting company operating in the surplus lines market, whose ultimate parent is Emerald Bay Risk Solutions LLC, was Thursday assigned a financial strength rating of A- (excellent) and a long-term issuer credit rating of A- (excellent) by A.M. Best & Co.