New Specialty Insurance Company Launches with Beat Capital Partners Backing

Former Crum & Forster executive Blair Bartlett and underwriter incubator Beat Capital Partners have launched 1889 Specialty Insurance, a specialty insurer for small and medium-sized insurance companies, brokers, financial institutions, and asset managers. The firm offers professional lines coverage and management liability policies, with policies written on an excess and surplus basis and distributed mostly through wholesale channels. The launch is backed by Beat syndicate at Lloyd's of London.

Beat Capital Partners, a London-based incubator of underwriting franchises and a subsidiary of Ambac Financial Group, Inc. (NYSE: AMBC), has announced the launch of 1889 Specialty Insurance Services, a U.S.-based specialty insurer focused on small and medium-sized financial institutions, asset managers, insurance companies, and insurance agents and brokers. The new venture is led by Blair Bartlett, a seasoned executive with over 20 years of experience in financial lines underwriting, most recently serving as Vice President of Financial Institutions at Crum & Forster.

1889 Specialty offers management liability and professional lines insurance coverage, written on an excess and surplus (E&S) basis and distributed primarily through wholesale channels. The insurer is backed by highly rated capacity, with policies written on behalf of a consortium led by Beat Syndicate 4242 at Lloyd’s. Bartlett, who serves as President and CEO of 1889 Specialty, emphasizes the company’s commitment to delivering superior products and exceptional service to appointed brokers, leveraging his deep understanding of financial institutions’ business practices and exposures.

John Cavanagh, chairman of Beat Capital Partners, praised Bartlett’s leadership and expertise, stating that 1889 Specialty has the potential to become a leading underwriter in the SME financial institutions segment. Claude LeBlanc, president and CEO of Ambac, expressed enthusiasm for the partnership, highlighting Bartlett’s extensive underwriting background and leadership experience, which aligns with Ambac’s focus on top-tier underwriting talent.

1889 Specialty Insurance Services is committed to providing high-quality protection to SMEs in the financial services sector, with a strong emphasis on customer service and tailored coverage solutions. The launch of 1889 Specialty is part of Ambac’s broader strategy to expand its specialty insurance underwriting and distribution businesses in the U.S. and U.K.