Louisiana-based Gray Insurance sets up E&S carrier

The Gray Insurance Company has expanded in the excess casualty space with the launch of a new surplus lines company that will initially bring $10mn in capacity.

The new company, Gray Surplus Lines Insurance Company, will launch on 1 December and will work with select wholesale brokers. It has been approved in 14 states and is looking to add new states regularly.

The new Louisiana-domiciled carrier has secured an AM Best rating of A- (Excellent), Financial Size Category of VIII, and will consider placements on lead or excess layer attachments.

Gray Surplus Lines Insurance Company has been set up with the hires of Phil Joschko as executive vice president, Kyle Biddinger as senior vice president and Joanne Suarez as vice president.

Joschko was most recently a senior vice president at Houston Casualty Company from 2011 to 2016. Biddinger was most recently a product director of BOP and first party property coverages at Nationwide. Suarez was previously assistant  vice president at Everest Insurance.

Metairie, Louisiana-based Gray Insurance Company was set up in the early 1950s. It writes casualty insurance for the energy, oil and gas industry, the land, maritime and USL&H sector and the heavy construction sector.