Ryan Specialty has announced the launch of AXSAL Re, a member-owned group captive managing general underwriter (MGU) designed specifically for transportation companies and other insureds with large fleets.

AXSAL Re is managed by Keystone Risk Partners, Ryan Specialty’s alternative risk placement specialist, and is distributed through brokers and agents.

“The team at Keystone Risk Partners has developed AXSAL Re to provide value and innovation to this distressed market,” said Kieran Dempsey, chief underwriting officer of Ryan Specialty and president of Ryan Alternative Risk. “This auto liability managing general underwriter is focused on offering an alternative solution to traditional insurance, allowing insureds buffer-layer stability for the balance of the excess tower that follows. It is an innovative solution at the right time in the market.”

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“We are very excited for this offering and know that it is the right solution for many transportation and large fleet companies,” said Andy Lewis, CEO of Keystone Risk Partners. “The state of the excess commercial automobile market is strained and is demanding alternatives for their insurance. AXSAL Re is an interesting and innovative option that has been developed from this strong need.”