MSL Captive Solutions (MSL) has become a full service managing general underwriter (MGU) for Everest Reinsurance Company, effective from 1 June, 2023.
In December last year, Giles told Captive Intelligence that medical stop loss (MSL) captives were on course to account for more than 25% of the overall MSL insurance market.
“The tremendous expansion in the MSL captive market over the past decade has exceeded a comfortable supply of competitively diverse carrier options participating in this segment,” said Phillip Giles, managing director of MSL Captive Solutions.
“Everest is a highly rated carrier and brings stability to the medical stop loss captive sector through the strength of its balance sheet and underwriting philosophy.”
Giles added the agreement should bring the agility to underwrite on a direct and reinsurance basis, expanding MSL’s capacity to deliver tailored captive solutions to both group and single parent captives.
MSL Captive Solutions works with select programme managers, brokers, consultants and captive managers to develop proprietary group and single parent captive programmes.
MSL provides stop-loss captive underwriting management to a number of the world’s largest stop-loss carriers and develops customised captive programmes with each carrier to meet the specific risk, financial, and objectives of its clients.
“MSL Captive Solutions is a predominant MGU in the captive insurance market and we are thrilled to be working with them,” said Shawn Austin, senior vice president and head of accident and health North America at Everest.
“Their expertise in the captive space combined with Everest’s strong financials will bring an impressive offering to this rapidly growing market segment.”