Euclid Insurance Services, Inc. Forms New Underwriting Operation for Transactional Insurance
Itasca, IL and New York, NY–April 20, 2016 – Euclid Insurance Services, Inc. (“Euclid”), today announced that it has formed Euclid Transactional, LLC (“Euclid Transactional”), a transactional insurance underwriting platform, to expand its capabilities to provide representations & warranties, tax liability, contingent liability and other transactional insurance coverages. Jay Rittberg, Phillip Casper and Albert Song have joined Euclid Transactional as equity partners, and they will lead the new operation out of New York, NY. The Euclid Transactional team members are highly regarded thought leaders in the transactional insurance space.
John N. Colis, President and CEO of Euclid commented, “The use of transactional insurance has increased significantly over the past few years and we are excited to expand our transaction-related offerings to our insurer partners and clients through this new, unique underwriting facility. The team, collectively, has more than 30 years of experience working on M&A transactions and has demonstrated the ability to develop a best in class transactional insurance platform to provide solutions for clients, lawyers and brokers.”
Jay Rittberg, Managing Principal of Euclid Transactional noted, “We are very excited to work for an entrepreneurial company which shares our strong commitment to customer service and understands the product expertise and execution required to succeed in the transactional insurance space. We look forward to working on expanding the capabilities of Euclid’s current insurance carrier partners in the M&A space and are actively looking for new carriers with excellent financial strength and ratings to provide additional capacity.”
“The new operation represents another exciting step in Euclid’s overall plan for program growth and expansion,” added Mr. Colis. “I am so pleased to add Jay, Phillip and Albert to the Euclid platform. Their knowledge, leadership and dedication to superior service will blend in perfectly with our organization.”
About Euclid Transactional
For information on the Euclid Programs operations, visit euclidprograms.com. Underwriting inquiries for Euclid Transactional can be directed to Jay Rittberg or [email protected], Phillip Casper or [email protected], or Albert Song or [email protected].
About Euclid Insurance Services, Inc.
Founded in 1952, Euclid Insurance Services, Inc. is a program administrator for specialty property/casualty insurance programs operating under the names Euclid Public Sector Underwriters, Euclid A&E, Euclid Specialty Managers, Euclid Public Sector Alternative Risk, Euclid Executive Liability Managers and Euclid Financial Institution Underwriters and functions as a general agency distributing employee benefit and life products, under the name Euclid Managers.