Insurance Captives

SPARTA is an acronym for Specialty Program and Risk Transfer Alternatives. SPARTA’s vision is to be the premier provider of customized unbundled program solutions. All insurance coverages are issued through SPARTA Insurance Company on a fully admitted basis. The company operates countrywide where authorized in two niche property and casualty insurance segments:

Alternative Risk Transfer Programs (“ART”) providing program level risk sharing through captive reinsurance

Specialty Insurance Programs (“Specialty”) whereby the risk is fully retained by SPARTA

SPARTA Insurance Holdings, Inc. (SPARTA) was formed in March 2007. In August 2007, SPARTA received regulatory approval from the Massachusetts Insurance Division to acquire a 52 jurisdiction licensed insurance company shell that it renamed SPARTA Insurance Company. Upon approval of the acquisition, SPARTA Insurance Company received an A- (Excellent) rating from A.M. Best.

SPARTA Insurance Company has $255 million of statutory surplus, an A.M. Best financial size category IX.

Targeted Classes and Lines of Business

Programs typically average from $10 to $15 million in annual gross written premium and demonstrate a high degree of homogeneity by: Industry Sector, Territory, or Controlled Production Source. The minimum program premium size is $5 million.

Characteristics of typical target programs include established programs with risks more homogeneous than heterogeneous, in a geographical area more regional than national, with target insureds in industries that present less severe hazards.

Typical classes of business that fall within our underwriting appetite include: Retail, Wholesale, Service, Light Manufacturing, Light/Medium Contracting, Hospitality, Habitational, Transportation

SPARTA has a selective and disciplined underwriting approach exclusively focused on unbundled program business for commercial auto liability and general liability with exposures typically up to $1 million in policy limits, property with exposures up to $5 million per location, and workers compensation with statutorily mandated limits.

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