Private equity firm NMS Capital Group has launched Ascendra Specialty Inc., a technology-driven, full-service managing general agency and program manager.
The new MGA reportedly specialises in bespoke insurance programmes across defined market segments, providing underwriting expertise, delegated authority and claims stewardship on behalf of its carrier partners.
NMS said Ascendra’s launch builds on its insurance-sector strategy of developing dedicated platforms to deploy capital across targeted segments of the insurance and reinsurance markets.
According to the firm, Ascendra will initially focus on approximately eight dedicated business lines ranging from Professional Liability, Workers Comp, Transportation, Cyber, Construction, Property, Environmental and Small Business/Specialty.
As part of the launch, Ascendra has partnered with Moonshot Foundry Inc., leveraging its proprietary technology platform and carrier and retail agency network.
Trevor M. Saliba, Founder, Chairman & CEO of NMS, commented, “We are pleased to formally announce the launch of Ascendra Specialty following extensive market and sector research.
“We are equally excited to partner with Moonshot as both a capital, technology and strategic partner leveraging their proprietary technology platform and deep industry and operational resources as a leader in the insurance sector.”
Jeff Brown, CEO of Moonshot, said, “Trevor and his talented team are ideal partners for Moonshot’s accelerated launch program. Our Sherpa team is working side by side with Ascendra to accelerate their launch, connecting them with the full strength of Moonshot’s ecosystem, from our AI-enabled platform and digital distribution capabilities to operational support, innovative financing, and captive management solutions.”
