Terry and Luke Ledbetter, both of whom have extensive experience in the insurance industry, recently made the announcement that they will be launching a new insurance producing company called Kestrel Group.
Kestrel Group is going to take on the role of “authorized producer” for four different carriers that are rated “A-” (Excellent) by A.M. Best. The aforementioned carriers hold numerous licenses across the United States and has extensive capacities including both recognized and overstock lines. According to another statement, the “special structure” of Kestrel Group will “strategic improve innovation across the insurance value chain.”
Terry Ledbetter, the executive chairman of Launcher Group, said, “We are delighted to announce the initiation of Kestrel Group, with a revolutionary configuration that will additionally significantly improve efficiencies in the insurance value chain.” Kestrel Group was formed with the goal of enhancing operational efficiencies throughout the insurance value chain.
The Ledbetters are most well-known for their role as the founders of State National Companies, which was eventually acquired by Markel Company for the price of $919 million in 2017.
“During our time at State National, we were primarily focused on the development of a connection between distribution and capacity. Kestrel Group will offer major benefits for our clients by capitalizing on our deep experience, great track record of success, and deep ties all across the industry, Terry Ledbetter stated.
Kestrel Group has asserted that its staff possesses vast industry ties in addition to extensive understanding of onboarding complex programs and managing them effectively. The organization has also bragged about its good relationships with both policymakers and rating agencies, as well as its history of successfully creating successful contract business.
“According to Luke Ledbetter, president and CEO of the Kestrel Group, attentive to the demands of customers in the process of creating agreements that lead to long term relationships is the central focus of the company’s business. “Both Terry and I have spent the majority of our professional lives devoted to these endeavors, and we derive a great deal of fulfillment from cultivating connections and formulating solutions that are mutually beneficial. Through the Kestrel Group, we will have the ability to once more provide service to administrators, MGAs, reinsurers, and surety brokers, and we are quite enthusiastic about this prospect.”