Ignyte Insurance has been launched as a specialty insurance platform, aiming to acquire, scale, and speed up insurance brands in niche markets worldwide.
The company, a portfolio firm of Carlyle since 2022, is now stepping into the specialty insurance spectrum.
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This move is part of the recent sale of NSM Insurance Group’s US commercial business to New Mountain Capital.
The executive team leading Ignyte boasts over three decades of experience in the insurance sector.
Industry veterans Geof McKernan, Bill McKernan, and Marc Castellucci are at the helm, with an experience of building and scaling insurance platforms.
The core strategy of the company revolves around acquiring and nurturing specialised insurance businesses and investment approach with an underwriting experience.
The platform is now the foundation for a growing global portfolio of specialty insurance brands, the release said.
These brands cover diverse sectors such as collector car, travel medical, international student health, leased equipment, and other embedded insurance products.
Ignyte Insurance CEO Geof McKernan said: “Ignyte represents more than a name — it embodies the entrepreneurial spirit, innovation and grit that have fuelled our growth for over three decades. Others may turn away from unique or complex niche industries — but we run toward them. We’re laser-focused on identifying high-performing companies and sectors, and helping them scale through differentiated strategies, technology and talent. We’ve built a world-class platform — and now, we’re ready to go even further and faster.”
Ignyte Insurance president Bill McKernan stated: “We’re incredibly proud of what we built at NSM Insurance Group over the past 35 years, but it was time to take on a new challenge. We’ve proven our ability to build and scale successful companies, and with Ignyte, we’re ready to take that to the next level. The opportunity ahead is massive.”
The companies supporting Ignyte manage over $650m in premium and serve millions of customers across the US, UK, Europe, and Australia and with over $4bn in executed transactions.
