Global Indemnity Group (GBLI) has launched a new reinsurance managing general agency (MGA) through its subsidiary Penn-America Underwriters (PAU). Led by experienced reinsurance executive George Dragonetti, the new unit marks PAU’s first de novo venture in its MGA platform expansion. PAU focuses on underwriting, growth, and distribution of insurance and reinsurance products. Dragonetti brings over three decades of reinsurance expertise to the new venture, with a track record of developing tailored solutions and strategic growth initiatives.

GBLI, a publicly traded holding company, has controlling interests in PAU and Belmont Holdings GX. PAU includes a network of agencies dedicated to sourcing, underwriting, and servicing insurance policies, along with three strategic insurance product and service businesses. Belmont Holdings GX consists of five state-regulated insurance carriers. PAU’s launch of the reinsurance MGA represents a significant milestone in the company’s development as a specialty provider of insurance and reinsurance products and services.

Earlier this year, GBLI completed a reorganisation initiative called Project Manifest to enhance operational efficiency and foster growth. The reorganisation led to the formation of business units within the Penn-America divisions, new independent technology and claims service companies, and separate entities for each of Penn-America’s wholesale commercial, vacant express, collectibles, and specialty divisions. PAU president and CEO Praveen Reddy expressed confidence in driving innovation, growth, and superior underwriting performance for the new reinsurance platform.

Read more at Yahoo Finance: GBLI subsidiary PAU launches reinsurance MGA