Specialty Risk Re (SRR) Secures $50 Million in Funding
Specialty Risk Re (SRR), an innovative collateral reinsurance firm established in 2024, has successfully closed a significant funding round, securing $50 million with the leadership of NMS Capital Group. This crucial investment positions SRR as a promising capital partner for managing general agents (MGAs) and insurance carriers.
With a focused dedication to developing quota share and excess-of-loss reinsurance programs, SRR aims to collaborate closely with a select group of program administrators. The goal is to create sustainable and long-term risk-sharing solutions that cater to the unique needs of their partners.
Jonathan Collura, the president and CEO of SRR, expressed his enthusiasm, stating, “This funding marks a significant milestone in our vision to establish SRR as a trusted and well-capitalized partner in the reinsurance market. Our strategy is built on disciplined risk selection, allowing us to construct a well-diversified book of business without overexposure to any single class or region.”
The positive response from the market regarding SRR’s innovative business model is indicative of the growing demand for robust reinsurance solutions. This financial boost enhances SRR’s capacity to address the increasing shortfall in the reinsurance sector, thereby reinforcing its commitment to responsible risk management.
SRR’s underwriting strategy is particularly focused on mid- to long-tail risks, employing a steady and systematic growth model aimed at enhancing long-term insurance and investment returns. Collura further commented, “By leveraging our strong capitalization and domestic presence, SRR is positioned to be the go-to reinsurance partner in today’s risk environment.”
Furthermore, the encouraging market feedback has resulted in additional commitments from investors, with promises of further capital injections anticipated by the end of Q1 2025. This additional funding is expected to empower SRR to scale its operations effectively in alignment with market demand, ensuring that the firm can continue to deliver stable and long-term capital solutions to its valued partners.
Source: insurance business mag
