Victor, a global managing general underwriter (MGU), entered the reinsurance market with the acquisition of Regional Treaty Services Corporation (RTSC), a private reinsurance MGU based in Newport, Rhode Island.
RTSC, founded in 2003, is a licensed reinsurance producer that serves as the MGU for three reinsurance facilities for small to medium-sized regional insurers based in the United States. RTSC’s corporate clients primarily write personal lines, small farming and high street commercial business.
Following the acquisition, RTSC founder John Pfautz will continue in his current role and report to Brian Hanuschak, CEO of Victor Insurance Holdings.
“Joining Victor is the next logical step in the evolution of RTSC,” said Pfautz. “Victor understands our long-term value and is committed to supporting future growth opportunities for reinsurers and ceding companies. I look forward to joining Victor’s talented team with his strong track record of success, while expanding RTSC’s ability to deliver even more value to our customers.
Hanuschak commented, “Today marks an important chapter in Victor’s 65-year history as we expand our underwriting capabilities in the reinsurance market. Victor’s focus on small business ventures, coupled with our history of underwriting excellence, product diversity and long-term capital relationships, aligns well with RTSC’s strong underwriting record. .
“We look forward to supporting and growing existing RTSC carrier customers with our industry-leading technology and innovative approach to matching risk, distribution and access to capital.”
Victor is a global MGU with locations in the US, Canada, UK, Netherlands, Italy and Australia. It manages over $2.5 billion in premiums on behalf of numerous insurance and reinsurance relationships through an extensive network of over 20,000 active insurance agents and brokers.