HDI World Specialty secures majority stake in Falcon Danger Holdings

HDI World Specialty SE (HGS), a specialty strains insurer owned by HDI World SE, has secured a majority stake in managing normal company Falcon Danger Holdings, LLC (Falcon).

The deal, finalized on January 10, aligns with HGS’s strategic progress aims throughout the US market, the corporate mentioned.

Established in June 2021, Falcon was collectively fashioned by HGS, Craig Landi, and investor Griffin Highline (GH) to function HGS’ native entry level into the US monetary strains market. Now, HGS has acquired nearly all of shares beforehand held by GH, with the precise buy value undisclosed.

Settlement particulars between HGS and Falcon

Solely working for HGS, Falcon is anticipated to play a pivotal position in driving HGS’s progress within the US market.

Functioning as a complete managing normal company (MGA) specializing in underwriting and claims for the US monetary strains section, Falcon is actively underwriting insurance policies in administrators and officers (D&O) legal responsibility, skilled indemnity (PI), and cyber insurance coverage on behalf of HDI. Falcon supplies underwriting providers for each admitted and non-admitted firm insurers.

The current acquisitions bolster HDI World SE, the mum or dad firm overseeing each buying entities, in its bid to swiftly enter the surety and constancy insurance coverage enterprise within the US, along with exploring different future alternatives.

“We wish to drive important progress within the US specialty market, entice top-tier underwriting expertise, and generate worthwhile natural progress. The current improve of our stake in Falcon underlines the significance of the company for these plans within the US and creates the mandatory circumstances to reap the benefits of enticing progress alternatives in a fast-growing market,” mentioned Ralph Beutter, CEO of HGS and board member of HDI World SE.

Falcon CEO Craig Landi welcomed the transfer and a strengthening of the connection between each firms.

“We’re more than happy that HDI has elevated its shareholding,” he mentioned. “Having such a high-performing international participant as HDI on board demonstrates the popularity of Falcon’s potential and the boldness in our capabilities.

“This partnership will additional drive our bold progress targets within the US specialty insurance coverage market and can help Falcon’s progress into further product strains.”