Orchid Insurance, a portfolio company of TowerBrook Capital Partners LP, has named Ross Bowie as head of personal lines. Previously, Bowie worked at Bankers Insurance Group where he was senior vice president. Orchid Insurance is a specialty underwriter of catastrophe- exposed property insurance.
VERO BEACH, Fla.–(BUSINESS WIRE)–Orchid Underwriters Agency, LLC (“Orchid Insurance”), among the largest independent managing general underwriters that focus on catastrophe-exposed properties, has named Ross Bowie as Head of Personal Lines, Brad Emmons, President and Chief Executive Officer at Orchid Insurance, announced today.
“We are thrilled to have Ross join Orchid to lead our personal lines business,” said Emmons. “He is a consummate professional whose career has spanned the management of products, marketing, underwriting, and sales teams. His experience and skills will be a tremendous asset to our company as we continue to scale our business with brokers and agents.”
Bowie replaces Bob Rose, who transitioned to a new position as Head of Underwriting and Exposure Management Services. In this role, Rose will be responsible for building capacity submission support, claims analytics and reporting, new product development, and risk analytics as well as underwriting controls and compliance.
Prior to Orchid, Bowie was Senior Vice President at Bankers Insurance Group, where he oversaw $180 million in premiums for both personal and commercial lines as well as the development of new products in Texas, Louisiana, Florida, and South Carolina. During his tenure at Bankers, he integrated multiple machine learning algorithms that improved risk selection on both the commercial and personal lines portfolios resulting in growth of more than 350 percent while decreasing the net loss ratio by 13.1 percent. His previous roles included sales, product development and underwriting at ASI/Progressive.
“I am excited to lead a talented team of professionals and expand on Orchid’s well-earned reputation for creative and flexible coverage solutions,” said Bowie. “The excess and surplus market continues to enjoy substantial growth, and I look forward to ensuring that Orchid is well-positioned to seize opportunities and deliver underwriting expertise and value to our agency partners.”
Bowie, who will serve out of Orchid’s Tampa offices, earned a Bachelor of Science in Economics at the University of Saint Thomas, in St. Paul, Minn.
About Orchid Insurance
Founded in 1998 and based in Vero Beach, FL, Orchid Insurance provides specialty insurance products for homeowners and businesses throughout the United States, the Bahamas, and the Caribbean. A variety of product offerings provide customers with a single, comprehensive solution for both personal and commercial property insurance including Wind and Wind-Only, General, Primary and Excess Flood, Earthquake, Builder’s Risk, and others. Orchid Insurance is a First Choice of agents who value superior process, policy and pricing options, high-quality system technologies, expertise in the E&S market with coastal-exposed risks, and extensive knowledge of coastal CAT-exposed market areas in the East and Gulf Coast states. Orchid Insurance only represents well-known A.M. Best Rated carriers. Orchidinsurance.com. In 2018 private equity group TowerBrook Capital Partners made a majority investment in Orchid.
TowerBrook Capital Partners L.P., an international investment management firm with more than $12.4 billion assets, is based in New York and London. The firm focuses on investing in North American and European companies through private equity and structured opportunities strategies, allowing it to access a range of opportunities throughout the cycle. TowerBrook’s private equity strategy primarily pursues control-oriented investments in large and mid-market companies, principally on a proprietary basis and often in situations characterized by complexity. TowerBrook’s structured opportunities strategy leverages the firm’s expertise to invest in opportunities that fall outside the investment parameters of its private equity strategy including structured equity and structured assets. www.towerbrook.com.