MGA Paragon Insurance Holdings Announces Partnership with Ascot Group

Managing general agent Paragon Insurance Holdings LLC said it will work with the Ascot Group in a partnership aimed at reaching niche markets.

Source: AM Best | Published on May 22, 2024

Paragon teams up with Ascot

Managing general agent Paragon Insurance Holdings LLC said it will work with the Ascot Group in a partnership aimed at reaching niche markets.

In the company’s first program partnership, Ascot will support Paragon’s Trident Risk Solutions public entity casualty program, Paragon said in a statement. The arrangement will combine Paragon’s experience in tailored underwriting with Ascot’s “extensive and diverse” portfolio, the statement said.

“With Ascot’s breadth of capabilities, and the strategic approach to trading relationships, we see Trident as our first of what will ultimately become a large and diversified trading partnership,” Ron Ganiats, chief executive officer of Paragon, said in a statement.

Paragon is a Galway Holdings company formed in 2014 that writes all commercial lines across 25 programs with industry-specific underwriting facilities, the statement said.

“Ascot forms strategic partnerships with discerning MGA/MGUs such as Paragon because we understand the value of their specific underwriting technology and capabilities to fill unique coverage needs in the market,” said Matt Kramer, chief executive officer of Ascot U.S., in a statement.

Managing general agent Paragon Insurance Holdings LLC in 2022 said the closing of its acquisition of entertainment, film, TV, motorsports, leisure and sports MGA Reel Media LLC expands and broadens its reach.

Reel Media became the market-leading film/TV and studio MGA by partnering with Allianz and attracting “great talent” under Chief Executive Officer Marc Idelson, said Ganiats in a statement.