NMS Capital Group, a family office-backed private equity firm, has launched Ascendra Specialty Inc., a managing general agency (MGA) and program manager focused on specialty insurance products.
The new MGA will develop customized insurance programs for specific market segments, providing underwriting services, delegated authority and claims management oversight on behalf of its insurance carrier partners.
As part of the launch, Ascendra has partnered with Moonshot Foundry Inc. to access its insurance technology platform, carrier relationships and distribution network.
Through the partnership, Ascendra will have access to licensing and appointments supporting business in all 50 states, multiple rated and alternative risk carriers, and a network of more than 1,200 active retail and wholesale brokers.
Ascendra will initially focus on eight insurance segments: professional liability, workers’ compensation, transportation, cyber, construction, property, environmental and small business/specialty insurance.
The company plans to use technology to streamline insurance operations throughout the policy lifecycle, from quoting and underwriting to claims processing.
Trevor M. Saliba, founder, chairman and CEO of NMS Capital Group, said the launch follows extensive research into opportunities within the insurance market. He added that the partnership with Moonshot will provide Ascendra with technology, capital and operational resources to support its development.
Jeff Brown, CEO of Moonshot Foundry, said his company’s team will work directly with Ascendra to support its launch through AI-enabled technology, digital distribution, financing and captive management services.
The launch expands NMS Capital Group’s insurance investment strategy, which focuses on developing specialized platforms across the insurance and reinsurance markets.
Ascendra is expected to complement NMS’s existing portfolio companies while creating additional opportunities for organic growth in specialty insurance.
Information for this article was provided by NMS Capital Group, LLC. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
