The Gray Insurance Company has expanded into the excess casualty insurance segment with the launch of Gray Surplus Lines Insurance Company.
Domiciled in Louisiana, Gray Surplus Lines Insurance has an A.M. Best rating of A- (Excellent), and a Financial Size Category of VIII. The new company will have $10,000,000 in capacity and will consider placements on lead or excess layer attachments. A release revealed that it is currently approved in fourteen states, with new states “being added regularly.”
Gray Surplus Lines Insurance Company launches December 01, 2020. To helm the new business, Gray has appointed Phil Joschko as executive vice president, Kyle Biddinger as senior vice president, and Joanne Suarez as vice president.
“I have always held Phil in high regard and I am thrilled to have the opportunity to work together again in this venture. I always put immense value on Phil’s mentorship in underwriting when I entered the business,” said Gray Insurance Company president and CEO Michael Gray.
Gray and Joschko share a long professional history that stretches as far back as the early 1980s, a company release said. Joschko had worked with Gray’s father Denver Gray, who was the founder of Gray & Company (owner of The Gray Insurance Company).