Insurance veterans team up to create new insurance producer

Insurance veterans team up to create new insurance producer | Insurance Business America

Insurance veterans team up to create new insurance producer

Insurance veterans Terry Ledbetter and Luke Ledbetter have announced their formation of a new insurance producer - Kestrel Group.

Kestrel Group will serve as the “exclusive producer” for four A.M. Best "A-" rated (Excellent) carriers. Said carriers are widely licensed throughout the US with broad admitted and surplus lines capabilities. A statement also said that Kestrel Group’s “unique structure” will “strategically enhance innovation across the insurance value chain.”

“We are proud to announce the formation of Kestrel Group, with an innovative structure which will further enhance efficiencies in the insurance value chain,” said Kestrel Group executive chairman Terry Ledbetter.

The Ledbetters are best known as the founders of State National Companies, which was sold to Markel Corporation in 2017 for $919 million.

Read more: Markel Corporation completes acquisition of State National

“Previously at State National, we focused on the creation of a bridge between distribution and capacity. Kestrel Group will build on that extensive expertise, strong track record of success and deep relationships throughout the industry to create significant benefit for our clients,” added Terry Ledbetter.

Kestrel Group stated that its team has deep industry connections and extensive knowledge of onboarding and managing complex programs efficiently. The company has also boasted of its track record of writing profitable program business, as well as its strong relationships with regulators and rating agencies.

"The core of our business is listening to the needs of clients in structuring transactions which lead to long term partnerships,” said Kestrel Group president and CEO Luke Ledbetter. “Terry and I have spent our careers focused on these efforts and we find great satisfaction in building relationships and structuring solutions to benefit all parties. We are excited about the opportunity to once again serve program managers, MGAs, reinsurers and reinsurance brokers through the Kestrel Group."