Michael Price and Kean Driscoll, former executives at AIG, have unveiled the establishment of Dellwood Insurance Group, marking the emergence of a new nationwide excess and surplus lines insurance holding company.

Dellwood is committed solely to servicing wholesale brokers, with a particular focus on small and middle enterprise risks. The company enters the market with a formidable starting capital exceeding $250 million.

Backed by notable entities such as RenaissanceRe, PartnerRe, Starr Insurance, and Central Insurance, Dellwood also boasts support from prominent individual investors including Dominic Addesso, David Delaney, VJ Dowling, Jim Hays, and key figures from Stone Point Capital.

Speaking about the launch, Michael Price, Dellwood’s CEO., said: “The P&C industry is at an inflection point, and we are poised to actively participate in the most attractive insurance market conditions in over 20 years. Having access to the intellectual and financial firepower of our strategic investors will serve us and our broker partners well as we navigate the challenging E&S marketplace.” 

Dominic Addesso also commented, saying: “Both Michael and Kean have proven track records building profitable underwriting businesses and successfully managing through varying market cycles. They are extremely well-respected in the P&C industry and the investor group is excited to back them in this venture.”