TAG Financial Institutions Group is pleased to announce that Clear Blue Financial Holdings LLC (“Clear Blue” or “the Company”), a newly-formed commercial insurance fronting provider, announced that it has officially launched with two fully-licensed fronting carriers and will begin servicing clients immediately.
The combined carrier group has received an A.M. Best rating of A– (Excellent). The Companies are backed by Pine Brook, a private equity firm with deep financial services and insurance sector expertise. TAG Financial raised capital to finance the business, identified and advised on the acquisition of the two insurance subsidiaries, and advised on aspects of the rating and regulatory processes.
As a fronting carrier, Clear Blue is a non-risk bearing insurance business that enables traditional and alternative reinsurers to access the on-shore U.S. market through use of Clear Blue’s program management expertise, licenses and A.M. Best rating. Clear Blue was founded by a proven management team led by President and CEO Jerome Breslin, who built Bank of America’s commercial insurance division. He is joined by Chief Risk Officer Jim Mann and Chief Operating Officer Peter Klope, both of whom worked with Breslin at Bank of America. The management team is rounded out with Jeff Downey, former TAG Financial Principal, Manuel Lebron and Scott Palladino, all of whom bring significant experience in the P&C industry to the Clear Blue team. Steven Nigro, Managing Partner of TAG Financial has been named to the Board of Directors of Clear Blue.
About Clear Blue Financial Holdings LLC
Clear Blue Financial Holdings LLC is a privately owned Puerto Rican-based holding company, which, through its wholly-owned subsidiaries offers fronting and related services to the U.S. insurance marketplace.
About TAG Financial Institutions Group, LLC
TAG Financial Institutions Group is a boutique investment banking firm focused in the lower to middle market financial services sector, with a specific niche focus in insurance. The Company is based in New York City and is an affiliate of The Alberleen Group and in association with Cuttone & Company, Inc. member FINRA and SIPC.
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