Victor, a global managing general underwriter (MGU) has entered the reinsurance market with the acquisition of Regional Treaty Services Corporation (RTSC), a privately held reinsurance MGU based in Newport, Rhode Island.
RTSC, founded in 2003, is a licensed reinsurance producer that serves as an MGU for three reinsurance facilities for small to midsize regional US-based insurers. RTSC’s client companies primarily write personal lines, small agriculture, and main street commercial business.
Following the acquisition, RTSC founder John Pfautz will continue in his current duties and report to Brian Hanuschak, CEO of Victor Insurance Holdings.
“Joining Victor is the next logical step in RTSC’s evolution,” said Pfautz. “Victor understands our long-term value and is committed to supporting future growth opportunities for reinsurers and cedents. I look forward to joining Victor’s talented team with its strong track record of success, while expanding RTSC’s ability to deliver even greater value to our clients.”
Hanuschak commented: “Today marks an important chapter in Victor’s 65-year history as we expand our underwriting capabilities into the reinsurance market. Victor’s focus on small commercial business coupled with our history of underwriting excellence, diversity of products, and long-term capital relationships align well with RTSC’s strong underwriting record.
“We look forward to supporting and growing existing RTSC carrier clients through our advanced technology and innovative approach to matching risk, distribution, and access to capital.”
Victor is a global MGU with locations in the US, Canada, UK, Netherlands, Italy, and Australia. It handles more than $2.5 billion in premium on behalf of numerous insurance and reinsurance relationships through a large network of more than 20,000 active insurance agents and brokers.