Gryphon portfolio company Orchid Underwriters (“Orchid”), a leading specialty underwriter of excess & surplus (“E&S”) insurance focusing on coastal properties, today announced that it is expanding its Commercial Lines products into two new states, North Carolina and South Carolina. This is in addition to the current states of Florida, Louisiana, New Jersey, and Texas. Orchid’s Commercial Lines division specializes in Business Owner Policies (BOP) and Monoline Property Policies with coastal wind exposure, including a variety of coverage options serving small and medium sized commercial risks.
Orchid’s VP of Commercial Lines, Bryan Schofield, said, “We are proud of the rapid growth of our Commercial Lines business. North Carolina and South Carolina are key states for us as we seek to enhance the Company’s market leadership position. We look forward to providing our agent partners and business owners with comprehensive risk management solutions.”
Founded in 1998 and based in Vero Beach, FL, Orchid specializes in providing specialty insurance products for homeowners and small businesses throughout the United States and the Caribbean. The Company’s comprehensive product offering provides customers with a single, comprehensive solution for homeowners and condominium property insurance, including wind and wind only, general and excess flood, earthquake, builder’s risk, and others. Orchid aims to be agents’ first choice by offering superior process, policy ,and pricing options, high quality system technologies, expertise in the E&S market with coastally-exposed risks; and extensive knowledge of coastal CAT-exposed market areas in the East and Gulf Coast states. Orchid only represents well-known A.M. Best A-rated insurance carriers. In November 2014, private equity firm Gryphon Investors made a majority investment in Orchid.
- Junie Lopez
- Orchid Underwriters