Global Indemnity subsidiary launches inaugural reinsurance MGA

Penn-America Underwriters (PAU), a subsidiary of Global Indemnity Group (GBLI), is launching its inaugural reinsurance managing general agency (MGA) in partnership with George Dragonetti, who will also serve as President of the new unit.

For those unaware, PAU operates as a division of GBLI specialising in underwriting, growth, and distribution of insurance and reinsurance products, technology solutions, and claims services.

Before joining forces with PAU, the aforementioned Dragonetti served as Head of Property at Emerald Bay Risk Solutions.

He has also previously held key leadership roles at Nav Re and RLI Re.

Dragonetti commented on the new venture, “I am honoured to partner with PAU and to head up its MGA reinsurance business. I look forward to working closely with the leadership team to accelerate growth and deliver underwriting excellence.

“Beyond driving the success of our reinsurance business, I am eager to contribute to PAU’s broader strategy and long-term objectives.”

Praveen K. Reddy, President & CEO of Penn-America Underwriters, said, “This launch represents a major milestone in our development as a specialty provider of insurance and reinsurance products and services.

“In partnership with George Dragonetti and with George at the helm, we are confident in our ability to drive innovation, growth, and superior underwriting performance for our new reinsurance platform.”

Saul Fox, Chairman of GBLI, added, “Partnering with George Dragonetti to establish this innovative MGA marks a strategic leap forward for the company’s multi-prong Manifest initiative, underscoring GBLI’s commitment to expanding the company’s capabilities across both specialised insurance and reinsurance solutions.

“Mr. Dragonetti brings over three decades of reinsurance expertise—including 13 years in Bermuda and 20 years in the U.S.—to the new venture. His distinguished track record in developing tailored reinsurance solutions, building high-performing teams, and successfully executing strategic growth initiatives will be integral to establishing and advancing PAU’s reinsurance business.”