Balavant Insurance Group has launched Sentric Specialty, a new programme manager (PA) intended to provide specialty insurance solutions for niche and emerging risks.
The new business, led by CEO Florian Beerli, will focus on areas including manufacturing, crisis management and professional liability.
Sentric’s first product development in manufacturing defect protection is designed to address what it described as a long-standing gap in cover.
The offering broadens traditional product recall triggers by adding manufacturers errors and omissions as an additional trigger.
California-based Balavant said the debut product is the first in a planned sequence of innovations aimed at responding to shifting risk needs.
Balavant Insurance Group CEO Rekha Skantharaja said: “Sentric Specialty enters the market with a clear point of view and a solution that moves specialty insurance forward.
“Their manufacturing defect protection approach sets the tone for the innovations to come.
Balavant is committed to building category-leading PAs, and we are excited to support Florian and his team.”
Beerli previously worked as head of specialties and US programmes at Beazley, with responsibility for a portfolio spanning the US, Canada and Asia.
As part of the launch, Sentric has acquired the renewal rights to Beazley’s product recall book of business, which Balavant said provides immediate scale and continuity.
The platform will be supported by Hudson Insurance Group, an Odyssey Group company, which will provide its paper.
Hudson Insurance Group executive vice-president Trevor Howard said: “We believe Sentric Specialty is launching with a compelling combination of proven underwriting leadership and an established product recall platform. Florian’s track record speaks for itself, and we are proud to partner with him and the Balavant team.”
Balavant positioned the Sentric launch as part of a wider strategy to build a next-generation managing general agent platform.
Since its formation, Balavant has expanded to include Tangram Insurance Services, TIMBY Specialty, Preferred Reinsurance Intermediaries, and now Sentric.
“Balavant launches Sentric Specialty programme manager for niche risks” was originally created and published by Life Insurance International, a GlobalData owned brand.
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