MELBOURNE, Fla.--(BUSINESS WIRE)--Orion180, a leading provider of innovative homeowners insurance solutions, has successfully completed its reinsurance placement for excess-of-loss (XOL) and net quota share agreements for the 2024 hurricane season. The Orion180 Insurance Company tower now represents a 47% increase from 2023 and 200-year return period protection for both carriers.
With this strategic placement, Orion180 continues to deliver a wide range of personalized homeowners insurance products and anticipates significant growth in its personal lines premium across the United States. The renewed reinsurance program is backed by a robust panel of over 42 leading reinsurers. Each reinsurer holds a financial rating of A- or higher by AM Best or is 100% collateralized.
According to Ken Gregg, founder and CEO of Orion180, this latest reinsurance arrangement will enable Orion180 to continue its mission of serving the United States with premier insurance solutions and an outstanding customer experience.
“We appreciate the support of our reinsurance partners, which enables us to provide much-needed insurance capacity in areas experiencing significant disruption in the property insurance market,” says Gregg. “Our independent agency partners and customers can feel secure knowing that, in the event of a severe storm, Orion180 is equipped to fulfill our promise of protection. We are committed to remaining in catastrophe-exposed markets and bringing solutions to those in need.”
Orion180 continues its expansion with a new admitted homeowners product in the Ohio market as of July 9, 2024, and has further plans for new products and markets still to come in 2024. Independent agents interested in quoting insurance coverages should visit Orion180.com/partner-with-us.
About Orion180
Orion180 is a people-focused, technology-driven insurance brand that offers proprietary technology, real-time data, and straightforward underwriting practices, enabling independent insurance agents to provide their customers with a premier insurance experience.
Orion180’s operating companies are:
- Orion180 Insurance Co., a surplus lines (non-admitted) insurance company domiciled in Indiana and doing business in Alabama, Georgia, Mississippi, North Carolina and South Carolina.
- Orion180 Select Insurance Co., an admitted insurance company domiciled in Indiana that is approved to provide coverage in Alabama, Arizona, Georgia, Indiana, Mississippi and Ohio.
- Orion180 Insurance Services LLC, a managing general underwriter that partners with carriers and reinsurers to deliver homeowners insurance and other insurance solutions.
Orion180 has developed its own proprietary mobile application and technology platform, MY180, while also supporting third-party data integrations with insurance industry partners.
Orion180’s vision is to be the premier provider of insurance solutions to our clients across the globe. Our mission is to deliver an exceptional insurance experience through innovative technology, unparalleled customer service, and a comprehensive suite of product solutions. Learn more at Orion180.com.
