AF Group partners with Waypoint to enter assumed reinsurance market

Specialty insurer AF Group has entered into the assumed reinsurance marketplace through a new partnership with Waypoint Underwriting Management.

Waypoint will begin underwriting property, workers’ compensation and casualty treaty reinsurance for and on behalf of AF Group at the beginning on July.

The assumed reinsurance product is part of AF Group’s AF Specialty division.

They provide eligible partners with multiple entities of fronting paper which allows AF Specialty to write a broad spectrum of coverages on a national platform.

Lisa Corless, president and CEO of AF Group commented: “We are extremely excited to partner with Waypoint. This agreement further leverages our growing reinsurance platform and provides an outstanding opportunity to further diversify our business through our exploration and delivery of specialty products to meet new and unique customer needs.”

Joseph Horan, managing partner at Waypoint commented: “Four years of relentless effort, key additions, adaptation and constant self-improvement have elevated Waypoint to a first-choice reinsurance partner.

“This exciting announcement with AF Group reflects our continued commitment to bring strong financial capacity to the reinsurance market across a diverse and balanced product offering.”

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