Orion180 Announces Completion of 2024 Hurricane Season Reinsurance Towers
10 Julio 2024 - 12:35PM
Business Wire
Orion180, a leading provider of innovative homeowners insurance
solutions, has successfully completed its reinsurance placement for
excess-of-loss (XOL) and net quota share agreements for the 2024
hurricane season. The Orion180 Insurance Company tower now
represents a 47% increase from 2023 and 200-year return period
protection for both carriers.
With this strategic placement, Orion180 continues to deliver a
wide range of personalized homeowners insurance products and
anticipates significant growth in its personal lines premium across
the United States. The renewed reinsurance program is backed by a
robust panel of over 42 leading reinsurers. Each reinsurer holds a
financial rating of A- or higher by AM Best or is 100%
collateralized.
According to Ken Gregg, founder and CEO of Orion180, this latest
reinsurance arrangement will enable Orion180 to continue its
mission of serving the United States with premier insurance
solutions and an outstanding customer experience.
“We appreciate the support of our reinsurance partners, which
enables us to provide much-needed insurance capacity in areas
experiencing significant disruption in the property insurance
market,” says Gregg. “Our independent agency partners and customers
can feel secure knowing that, in the event of a severe storm,
Orion180 is equipped to fulfill our promise of protection. We are
committed to remaining in catastrophe-exposed markets and bringing
solutions to those in need.”
Orion180 continues its expansion with a new admitted homeowners
product in the Ohio market as of July 9, 2024, and has further
plans for new products and markets still to come in 2024.
Independent agents interested in quoting insurance coverages should
visit Orion180.com/partner-with-us.
About Orion180
Orion180 is a people-focused, technology-driven insurance brand
that offers proprietary technology, real-time data, and
straightforward underwriting practices, enabling independent
insurance agents to provide their customers with a premier
insurance experience.
Orion180’s operating companies are:
- Orion180 Insurance Co., a surplus lines (non-admitted)
insurance company domiciled in Indiana and doing business in
Alabama, Georgia, Mississippi, North Carolina and South
Carolina.
- Orion180 Select Insurance Co., an admitted insurance company
domiciled in Indiana that is approved to provide coverage in
Alabama, Arizona, Georgia, Indiana, Mississippi and Ohio.
- Orion180 Insurance Services LLC, a managing general underwriter
that partners with carriers and reinsurers to deliver homeowners
insurance and other insurance solutions.
Orion180 has developed its own proprietary mobile application
and technology platform, MY180, while also supporting third-party
data integrations with insurance industry partners.
Orion180’s vision is to be the premier provider of insurance
solutions to our clients across the globe. Our mission is to
deliver an exceptional insurance experience through innovative
technology, unparalleled customer service, and a comprehensive
suite of product solutions. Learn more at Orion180.com.
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Orion180, Yiguang Qiu 321.222.6242, yqiu@orion180.com