Crestwell Underwriters, a managing general agent, has launched in the insurance market, focusing on commercial residential sector in Florida with support from Bain Capital. They aim to provide unique insurance solutions for property owners, Boards of Directors, and property managers, starting with property-only insurance for condominium associations in Florida.

They will assume a portfolio of policies from Citizens Property Insurance Company and work with Emerald Bay Risk Solutions through Mainsail Insurance Company. Crestwell’s leadership includes CEO Kathy Cody and chief underwriting officer Paul DiFrancesco, both with over 30 years of experience in property underwriting.

Cody highlighted the opportunity to provide AM Best A-rated private insurance capacity in Florida’s commercial residential space, leveraging strong underwriting experience. DiFrancesco emphasized Crestwell’s commitment to exceptional customer service, best-in-class underwriting results, and building long-term relationships to set a new standard for partner agents and customers.

With Bain Capital’s support, Crestwell aims to scale an MGA platform for long-term stability and growth, delivering tailored coverage in a competitive market. Their goal is to navigate citizens depopulation program and provide indispensable insurance capacity in Florida’s dynamic market.

Read more at Yahoo Finance: Crestwell Underwriters launches in Florida with Bain Capital backing