The Associated Press

Emerald Bay Risk Solutions Acquires Mainsail Insurance Company

2 hours ago

MORRISTOWN, N.J.--(BUSINESS WIRE)--Aug 16, 2024--

Emerald Bay Risk Solutions (“Emerald Bay”), a collaborative underwriting carrier, today announced the acquisition of Mainsail Insurance Company (“Mainsail”). The acquisition will complement and expand Emerald Bay’s tailored insurance solutions to facilitate writing business in the national admitted markets. Financial terms of the private transaction were not disclosed.

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Mainsail provides property and casualty (“P&C”) insurance coverage, offering 17 varying lines of insurance, including auto, property, and commercial coverage.

“We’re pleased to announce the acquisition of Mainsail, which will be additive to Emerald Bay’s collaborative, tech-enabled underwriting approach,” said Dave Ingrey, Chief Executive Officer and Co-Founder of Emerald Bay.

Mainsail will be a wholly owned subsidiary of Emerald Bay Specialty Insurance Company, the A- rated surplus lines carrier for the company. Emerald Bay launched in March 2024 with backing from Bain Capital Insurance to deliver tailored insurance solutions, consistent underwriting results, and long-term, mutually valuable partnerships with a select group of high-performing managing general agents (MGAs) and market-leading reinsurance partners.

About Emerald Bay Risk Solutions

Emerald Bay Risk Solutions, a “Collaborative Underwriting Carrier,” is a specialty insurance firm, co-founded by industry veterans Dave Ingrey and Miles Allkins. With Bain Capital Insurance providing the flexibility to take advantage of market opportunities and a core of established programs, Emerald Bay’s emphasis on alignment of interests for all parties and on collaborative underwriting cultivates trust and mutual accountability. The company is structured to deliver quality admitted and surplus lines insurance solutions, working to bring optimized program offerings to the reinsurance market. Emerald Bay has an AM Best Financial Strength Rating of A- (Excellent).

For more information, visit www.emeraldbayrisk.com

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