Specialty Risk Re (SRR) Secures $50 Million Funding to Revolutionize Collateral Reinsurance
Specialty Risk Re (SRR), a newly established collateral reinsurance firm, has successfully closed a $50 million funding round, spearheaded by NMS Capital Group. Founded in 2024, SRR is poised to become a pivotal capital partner for managing general agents (MGAs) and insurance carriers, targeting the growing needs of the reinsurance market.
The firm specializes in quota share and excess-of-loss reinsurance programs and intends to work closely with a select group of program administrators. This strategic collaboration aims to deliver sustainable and long-term risk-sharing solutions that benefit all stakeholders involved.
Jonathan Collura, president and CEO of SRR, stated, “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.”
This investment enhances SRR’s capacity to address the increasing shortfall in the reinsurance sector, particularly in light of evolving market dynamics. The company’s underwriting strategy is designed to target mid- to long-tail risks, utilizing a steady and systematic growth model to enhance long-term insurance and investment returns.
Collura further emphasized, “By leveraging our strong capitalization and domestic presence, SRR is positioned to be the go-to reinsurance partner in today’s complex risk environment.”
The overwhelmingly positive market response to SRR’s innovative business model has spurred additional commitments from investors, with expectations of further capital injections by the end of Q1 2025. This financial backing is anticipated to empower SRR to scale its operations effectively in alignment with market demands, ensuring the firm can consistently provide stable, long-term capital solutions to its partners.
Source: Insurance Business Mag
