Joyn adds Travelers’ Carmilani as senior E&S underwriter

SME-focused US insurtech Joyn Insurance has bolstered its E&S capabilities with the hire of Andrew Carmilani from Travelers to support the growth of the newly launched platform.

Carmilani, who has been appointed senior E&S underwriter, has moved to SiriusPoint-backed Joyn after nearly seven years at Travelers’ E&S subsidiary Northbridge Brokerage Solutions.

His career also includes stints at WR Berkley’s Berkley Regional Specialty, Markel, All Risks and AIG.

Carmilani’s hire comes shortly after Seraina Macia-led Joyn began underwriting E&S general liability (GL) coverage on SiriusPoint paper with a panel of reinsurers led by RenaissanceRe. The insurtech is expected to start underwriting excess liability coverage from 1 December.

Joyn began underwriting E&S property, also on SiriusPoint paper, at 1 July.

The MGA has entered a strategic insurance partnership with the Bermudian carrier, which has also invested in Joyn. SiriusPoint retains a portion of the risk and then cedes the rest to reinsurers, with property and casualty quota shares placed in the reinsurance market.

It also buys excess of loss protection for its retention on the property book.

Sources have previously told The Insurer that Peak Re also participates on the casualty quota share.

RenRe and Vantage are understood to participate on both the property and casualty quota shares, with other players including Berkley Re, Odyssey Re, Berkshire Hathaway and Scor on the property panel.

Joyn’s GL offering provides $2mn of limit, or $1mn for contractors’ GL, and targets customers with up to $50mn in revenue. For contractors, the target size is up to $10mn of payroll.

The excess liability product will offer up to $5mn of limit written over its own GL product.

The property offering targets the E&S market for SMEs with up to $10mn of total insured value (TIV) per location, and up to $25mn of schedule TIV.

The insurtech is looking to focus on six industry verticals: real estate, manufacturing, wholesale, retail, services and contractors.