WARREN, N.J., May 15, 2024 /PRNewswire/ — MS Transverse Insurance Group, LLC (“MS Transverse”), a leading hybrid fronting carrier in North America and a subsidiary of MSIG Holdings (U.S.A.), Inc. (“MSIGH”) today announces that co-founder and CEO, Erik Matson will voluntarily be stepping down from his active role at the company and transition to Vice Chairman. President and co-founder David Paulsson will assume the CEO role and CFO John Fitzgerald will be promoted to President.
Under Matson’s leadership, MS Transverse (formerly Transverse Insurance Group) has been a pioneer in the “hybrid fronting” program carrier model, where the market size has grown to over $14 billion in annual premium in the United States alone. The firm achieved remarkable growth and cemented its status as the premiere carrier in the market with its sale to MSIGH in 2023. With over 100 reinsurers and dozens of the largest and most sophisticated program manager and managing general agent partners participating in its business, MS Transverse looks to sustain its status in the years to come.
David Paulsson stated: “Transverse will always be part of Erik’s legacy and a testament to his vision and leadership. His continued counsel will be an asset to the company as Vice Chairman. We ended 2023 in the enviable position of significant increases in top and bottom-line performance while delivering sector leading underwriting results. We look forward to building on our momentum and market position in the hybrid fronting space with the support of our MGA and reinsurance partners, as well as the formidable capabilities of MSIG.”
From Erik Matson: “Now is the right time for me to pass the torch to Dave and the amazing team we have built these past 6 years. I look forward to continuing to support MS Transverse in my new role. I have not decided what I will be doing next, but I will cheer on MSIG and MS Transverse as they are on the path to another great year!”
About MS Transverse:
MS Transverse refers to MS Transverse Insurance Group, LLC and its underwriting and management subsidiaries. MS Transverse is a hybrid fronting carrier serving the program, managing general agent, and reinsurance markets with offices in New York, New Jersey and Texas. MS Transverse is a subsidiary of Mitsui Sumitomo Insurance Group and part of MS&AD Insurance Group Holdings. Founded in 2018 by Erik Matson, CEO, and Dave Paulsson, President, MS Transverse is a global facilitator connecting and enabling partners through access to risk capacity and alternative capital on admitted and surplus lines paper. For more information please visit www.mstransverse.com.
About MSIGH:
MSIGH refers to MSIG Holdings (U.S.A.), Inc. MSIGH is a US-based subsidiary of MS&AD Insurance Group Holdings, Inc., one of the world’s top P&C carriers with a global reach that spans 40+ countries and regions. To learn more, visit www.msig-na.com.
SOURCE MS Transverse Insurance Group
