London-based incubator platform Beat Capital Partners, which is part of Ambac Financial Group, has launched Fallow Grove Insurance Services in the US.
The new entity specialises in commercial property insurance for the middle market, with a product range that addresses complex risks and challenges.
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Ex-CrossCover executive Brett Dupre is the president and CEO of Fallow Grove.
Dupre said: “Our core mission at Fallow Grove is to serve the unique needs of the middle market property space with a level of precision, expertise and service that is unmatched in the industry.
“Our partnership with Beat and an excellent, knowledgeable panel of capacity partners enhances our ability to deliver top-tier commercial property products tailored to the diverse requirements of our clients.”
With over three-and-a-half decades of industry experience, Dupre brings significant expertise to the company, having previously held executive roles at AmRisc Group and FM Global.
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By GlobalDataThe company’s product line is focused on excess and surplus lines technical and general commercial property insurance.
Fallow Grove is backed by A+ rated capacity and writes on behalf of a consortium led by Beat Syndicate 4242 at Lloyd’s.
The suite of products includes coverage for industrial, flood, builder’s risk, and general property risks, catering to a broad spectrum of business needs across the US.
Distribution of Fallow Grove’s products will be exclusively through wholesale brokers, ensuring a specialised approach to servicing the commercial property insurance market.
Ambac president and CEO Claude LeBlanc said: “We are excited to welcome Brett Dupre, whose extensive technical underwriting background, prior leadership roles, and proven track record of building similar, successful businesses will continue the trend of developing future value for the group.
“The launch furthers a core component of our organic growth strategy, with our multiyear goal being to launch eight to ten new MGAs.”
In September 2024, Beat Capital Partners announced the launch for the following month of proRISE Insurance Services (proRISE), which specialises in management and professional liability insurance.
