Insurance Veterans Launch New Fronting Carrier
Concert Group Holdings, Inc. [Concert], a newly formed business dedicated to insurance fronting, announced that it has secured agreement to raise additional capital from its founders, Brady Young, CEO/founder of Strategic Risk Solutions, Inc. [SRS]; Wes Duesenberg, Jr., CEO of Southern Insurance Underwriters [SIU]; and Christopher Collins, CEO/founder of Corinthian Re, in partnership with Century Equity Partners and WT Holdings, Inc.
“Concert will provide access to the U.S. insurance market for both traditional products and alternative risk transfer structures,” the company said.
“Concert has successfully completed the acquisition of CEM Insurance Company, which will serve as one of the growth platforms for Concert’s operations. CEM Insurance Company has been renamed Concert Insurance Company and is a licensed admitted insurer domiciled in Illinois.
“Oppenheimer & Co. served as exclusive financial advisor to Concert. Morris, Manning & Martin, LLP was legal advisor to Concert and Foley & Lardner LLP acted as lead counsel to the investors.”
