News & Insights

Cases & Deals

January 23, 2020

Arrowood Completes its Sale of its Excess and Surplus Lines Insurer to Transverse

On January 23, 2020, our client, Arrowood Indemnity Company (“AIC”), completed its sale of its run-off insurance subsidiary, Arrowood Surplus Lines Insurance Company (“ASL”), to Transverse Insurance Group, LLC.  Prior to the completion of the deal, all prior year insurance business and liabilities of ASL were reinsured to AIC via a 100% quota share reinsurance agreement. Under the arrangement, AIC is set to continue to manage the ASL claims.

ASL is domiciled in Delaware and operates as an excess and surplus lines insurer, authorized to write business in most U.S. states.