The bold expansion focuses on tapping into the promising realms of surety and fidelity insurance.
Falcon Risk Holdings, established in June 2021 by HDI Global Specialty, Craig Landi, and investor Griffin Highline, was conceived to serve as HDI’s local gateway into the US financial lines market. HDI has now taken control of the shares previously held by Highline, the specific terms of which remain undisclosed.
Operating exclusively on behalf of HDI Global Specialty, Falcon is poised to be a key catalyst for growth in the US market. Functioning as a comprehensive MGA, handling both underwriting and claims, Falcon specializes in the US financial lines sector. Its portfolio includes actively underwriting policies in directors and officers (D&O) liability, professional indemnity (PI), and cyber insurance for HDI. Falcon operates with the flexibility to write policies for both admitted and non-admitted company insurers.
The move follows the announcement that HDI Global Insurance Company finalised the acquisition of Indiana Lumbermens Mutual Insurance Company, a shell company holding essential licenses and treasury listings. The dual transactions enable HDI Global SE, the parent company overseeing both acquisitions, to venture into the promising arena of surety and fidelity insurance in the US.
Ralph Beutter, CEO of HDI Global Specialty and board member of HDI Global SE, said: “The increased shareholding in Falcon and the acquisition of Indiana Lumbermens align perfectly with our ambitions at HDI Global to expand our presence and deliver superior insurance solutions to clients in the US.
“We want to drive significant growth in the US specialty market, attract top-tier underwriting talent, and generate profitable organic growth. The recent increase of our stake in Falcon underlines the importance of the agency for these plans in the US and creates the necessary conditions to take advantage of attractive growth opportunities in a fast-growing market.”
Craig Landi, CEO of Falcon, also commented, saying: “We are very pleased that HDI has increased its shareholding. This strategic decision will further intensify the already very trusting cooperation and thus forms a strong foundation for the successful expansion of our company in the future. Having such a high-performing global player as HDI on board demonstrates the recognition of Falcon’s potential and the confidence in our capabilities.”
He added: “This partnership will further drive our ambitious growth targets in the US specialty insurance market and will support Falcon’s growth into additional product lines.”
Author: Joanna England
