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Protective to Acquire Obsidian from Genstar Capital, Expanding into Specialty Property & Casualty Insurance

April 28, 2026

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation (Protective), a U.S. subsidiary of Daiichi Life Group, Inc. (Daiichi Life, TSE:8750), announced today that its principal subsidiary, Protective Life Insurance Company, has entered into an agreement with Genstar Capital (Genstar), a leading private equity firm focused on investments in targeted segments of the financial services, software, industrials and healthcare industries, to acquire Obsidian Insurance Holdings, Inc. and its affiliates (Obsidian), a leading property, casualty and specialty insurance platform. [...]

Obsidian Increases Surplus to Support Growth and Opportunities

November 20, 2025

NEW YORK, NY -- To support its third consecutive year of over 50% premium growth, Obsidian Insurance Holdings, Inc. ("Obsidian"), the holding company for Obsidian Specialty Insurance Company, Obsidian Insurance Company, and Obsidian Pacific Insurance Company, has increased surplus in its writing companies raising capital through a successful senior notes issuance and additional capital investment from its existing equity holders, including Genstar Capital. [...]

Obsidian Increases Surplus to Support Growth and Opportunities

November 20, 2025

NEW YORK, NY -- To support its third consecutive year of over 50% premium growth, Obsidian Insurance Holdings, Inc. ("Obsidian"), the holding company for Obsidian Specialty Insurance Company, Obsidian Insurance Company, and Obsidian Pacific Insurance Company, has increased surplus in its writing companies raising capital through a successful senior notes issuance and additional capital investment from its existing equity holders, including Genstar Capital. [...]

Converge Secures Underwriting Capacity from Obsidian for Companies up to $1b in Revenue

February 5, 2025

New York, NY – February 5, 2025 – Converge Insurance, pioneers in advanced cyber risk management and underwriting, today announced a significant milestone by securing underwriting capacity from Obsidian Insurance Group, which is focused on facilitating and supporting growth in specialty insurance programs. This partnership, that is supported and backed by a panel of top tier reinsurers, reinforces Converge’s position as a first-choice partner to wholesale brokers and their insureds who are seeking robust protection against evolving cyber risks. [...]

After Successful Series A Raise, Ledgebrook Expands Partnership with Obsidian to Launch Architects and Engineers Product

June 20, 2024

BOSTON, June 20, 2024 /PRNewswire/ -- Ledgebrook, a tech-enabled E&S MGA, has announced that it will be expanding its Professional Lines offerings by launching an Architects & Engineers product with Obsidian. Carolyn Pearce has joined the company as its A&E Practice Leader with over 25 years of industry experience, having previously served at Hudson Insurance Group, Argo, Lexington (AIG), and Chubb Insurance. Her extensive background in the A&E sector includes various leadership roles where she consistently drove profitable growth and advanced risk management outcomes. [...]

DOXA Launches New Property MGA

FEBRUARY 13, 2024

FORT WAYNE, Ind.— Feb. 13, 2024 — DOXA Insurance Holdings today introduced Arris, a new insurance program with coverage designed for the excess and surplus (E&S) commercial property space. The program is written through Obsidian Insurance Group (“Obsidian”), an A.M. Best rated “A- “hybrid program carrier group focused on facilitating and supporting growth in specialty insurance programs. [...]

Obsidian Names Craig Rappaport President and Nick Dagenais Chief Financial Officer

JULY 24, 2023

NEW YORK, July 24, 2023 /PRNewswire/ -- Obsidian Insurance Group ("Obsidian"), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the appointment of Craig Rappaport as President, and Nick Dagenais as Chief Financial Officer of Obsidian. [...]

Jeff Wittlich Joins Obsidian as Chief Underwriting Officer

JULY 11, 2023

NEW YORK, July 11, 2023 /PRNewswire/ -- Obsidian Insurance Group ("Obsidian"), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the appointment of reinsurance and program insurance industry executive Jeff Wittlich as Chief Underwriting Officer. [...]

Obsidian Chief Legal Officer Emily Canelo Featured in Vanguard Law Magazine

JUNE 15, 2023

Jun. 15, 2023 /Vanguard/ -- There are always opportunities for those willing to take a risk. A calculated risk, that is, with Emily Canelo having been two-for-two in helping launch a couple successful innovative insurance operations. [...]

Obsidian introduces a Program Analytical Review ("PAR") tool designed to increase transparency and improve program performance for clients

NOVEMBER 23, 2022

NEW YORK, Nov. 3, 2022 /PRNewswire/ -- Obsidian Insurance Group ("Obsidian"), which is focused on facilitating and supporting growth in specialty insurance programs, announced today the introduction of a Program Analytical Review ("PAR") data analytics tool that will be offered by Obsidian to its MGAs, Reinsurers, and Reinsurance [...]

David Lockton Joins Obsidian's Board of Directors

JANUARY 13, 2022

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- Obsidian Insurance Holdings, Inc. ("Obsidian"), an insurance holding company that, through its A.M. Best Rated "A-" insurance carrier subsidiaries, is focused on facilitating and supporting growth in specialty programs, announced today the appointment of insurance industry [...]