Emerald Bay has finalized its acquisition of Mainsail Insurance Company, a firm known for its extensive property and casualty (P&C) insurance offerings. Mainsail provides coverage across 17 distinct lines, including auto, property, and commercial insurance.
Dave Ingrey, CEO and co-founder of Emerald Bay, stated that integrating Mainsail will significantly enhance Emerald Bay Risk Solutions’ tech-driven, collaborative underwriting strategy.
Post-acquisition, Mainsail will function as a wholly owned subsidiary of Emerald Bay Specialty Insurance Company. This subsidiary currently boasts an A- rating from AM Best as a surplus lines carrier.
Emerald Bay Risk Solutions, which launched in March with backing from Bain Capital Insurance, specializes in customized insurance solutions, reliable underwriting outcomes, and building enduring relationships with top-performing managing general agents (MGAs) and reinsurance partners.
Emerald Bay, established by insurance veterans Dave Ingrey and Miles Allkins, also holds an AM Best financial strength rating of A- (Excellent).
In addition to the Mainsail acquisition, Emerald Bay recently partnered with MGA Curotech Specialty to introduce an excess and surplus (E&S) commercial property program. Curotech’s technology platform and in-house software engineering capabilities complement Emerald Bay’s tech-enabled underwriting approach, focusing on swift decisions informed by real-time data.
Earlier this year, Emerald Bay collaborated with MGA Lightspeed Specialty Insurance Solutions to develop a specialized insurance facility for California homeowners and landlords. This facility provides comprehensive coverage for dwellings, whether owner-occupied or tenant-occupied, in regions with minimal wildfire risk across the state.
