What Premia Holdings does

Premia Holdings Ltd. is a Bermuda-based private reinsurance group founded in January 2017 with a $510M initial capital raise from Kelso & Company ($300M), Arch Capital Group ($100M), and $110M in senior unsecured debt — at the time the largest-ever start-up reinsurer dedicated to P&C run-off solutions. The group acquires and reinsures legacy non-life insurance and reinsurance portfolios, providing capital release, finality, regulatory remediation, and M&A support to insurers, reinsurers, Lloyd's syndicates, capital providers, and industrial groups seeking to exit discontinued lines.

The operating platform spans five regulatory jurisdictions: Premia Reinsurance Ltd. (Bermuda Class 4 flagship reinsurer, ~$5B+ in assumed insurance liabilities, KBRA 'A' / AM Best 'A-'); Premia Managing Agency Ltd. and Syndicate 1884 at Lloyd's ('A+' AM Best, 'AA-' S&P and Fitch, nearly $1.7B reserves under management); Public Service Insurance Company (US, Illinois-domestic P&C platform); Premia Insurance Europe NV (NBB/FSMA-regulated, Belgium, with entities licensed across 31 countries plus Canal Re Luxembourg captive); Alan Gray LLC (claims management, legal bill reviews, audits, data analytics); and UK Company Markets subsidiaries Dominion and Trent (in run-off since 1994 and 1968). Elevation Re (SPC) Ltd. is a Cayman-licensed sidecar vehicle with $265M of third-party institutional capital providing collateralized capacity.

Premia's revenue model combines (i) reinsurance premiums from assuming run-off liabilities and investment income on float, (ii) fee income from Alan Gray's professional services, and (iii) transaction-based fees from Reinsurance to Close (RITC) transactions at Lloyd's. GTM is exclusively enterprise field sales — senior management engages directly with insurer CEOs, CFOs, and boards to structure bespoke deals, with no intermediary distribution. The company has executed four major Lloyd's transactions since 2020, four sizable acquisitions (Alan Gray 2018, PSIC 2019, Charles Taylor MA 2019, ASCO 2021), and over 200 run-off professionals operate across Bermuda, US, UK/Lloyd's, and Continental Europe as of 2025.

Name

Premia Holdings

Legal name

Premia Holdings Ltd.

Website

https://premiaholdings.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Bermuda-based private reinsurance group founded in 2017 that acquires and reinsures non-life insurance run-off portfolios globally. Operates across Bermuda, US, Lloyd's, UK, and Continental Europe with over $5 billion in assumed liabilities.

Ownership category

akta.pro rank

Product category

Reinsurance Run-off Solutions

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Run-off Claims Management, Commutation & Settlements (FSAOAJAI)

Keywords

• Reinsurance run-off solutions
• Insurance portfolio acquisitions
• Loss portfolio transfers
• Legacy insurance liabilities
• Lloyd's syndicate management

Headquarters

HQ city

Hamilton

HQ country

Bermuda

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Reinsurance Premiums: Premia earns reinsurance premiums by assuming run-off insurance and reinsurance liabilities from ceding companies. Premiums are received upfront and investment returns are generated on float.
2. Fee Income from Alan Gray LLC: Alan Gray LLC provides claims management, legal bill reviews, audits, data analytics and complex litigation analysis services, generating fee income for the group.
3. Reinsurance to Close (RITC) Transactions: Fee income from completing Reinsurance to Close transactions at Lloyd's, transferring liabilities between syndicates.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Premia is a Bermuda-based reinsurance group that acquires and reinsures non-life insurance and reinsurance run-off portfolios and companies. It provides bespoke reinsurance solutions (loss portfolio transfers, adverse development covers, RITC transactions) and acquires insurers in run-off, delivering capital release, regulatory finality and management focus for ceding insurance and reinsurance companies. Operating across Bermuda, the US, UK (including Lloyd's) and Continental Europe, the group has assumed over $5 billion in insurance liabilities across multiple licensed entities.

Product overview

Premia Holdings is a reinsurance group providing a comprehensive platform for insurance and reinsurance run-off solutions. The core offering consists of Premia Reinsurance Ltd. (Bermuda flagship Class 4 reinsurer), Premia Managing Agency Ltd. and Syndicate 1884 (Lloyd's platform), Premia Insurance Europe NV (European platform), and Public Service Insurance Company (US domestic platform). These are complemented by Alan Gray LLC (claims management and audit services), Elevation Re sidecar (collateralized reinsurance capacity), and UK subsidiaries Dominion and Trent (in run-off since 1994 and 1968 respectively). The group has assumed over $5 billion in insurance liabilities and offers solutions including reserve deficiency addressing, capital release, M&A support, and regulatory finality through reinsurance transactions and acquisitions.

Differentiator

Problem solved

Functional benefit

Brands

• Public Service Insurance Company (PSIC): Illinois domiciled property & casualty insurer providing domestic insurer for run-off solutions
• Alan Gray LLC
• Syndicate 1884
• Elevation Re (SPC) Ltd.
• Dominion
• Trent

Products and services

• Premia Reinsurance Ltd. Premia's flagship Class 4 Bermuda reinsurer regulated by the Bermuda Monetary Authority. Provides reinsurance solutions for acquiring and managing run-off portfolios with over $5 billion in assumed insurance liabilities. Rated A by KBRA and A- by AM Best.
• Premia Managing Agency Ltd. (PMAL) and Syndicate 1884 Lloyd's Managing Agency authorized by the Prudential Regulation Authority and regulated by the FCA and PRA. Manages Syndicate 1884, a run-off syndicate providing risk-transfer and run-off solutions for other Lloyd's syndicates and capital providers. Syndicate 1884 has assumed nearly $1.7 billion in reserves and is rated A+ by AM Best and AA- by S&P and Fitch.
• Premia Insurance Europe NV European subsidiary authorized by the National Bank of Belgium (license 0333) and regulated by NBB and FSMA. Platform for Continental European run-off solutions with entities licensed across 31 countries.
• Public Service Insurance Company (PSIC) Illinois domiciled property and casualty insurer providing Premia with a US domestic platform for run-off solutions, widely licensed across US states.
• Alan Gray LLC Professional services firm providing claim management, legal bill reviews, audits, data analytics, and complex litigation analysis for leading insurers and reinsurers, MGAs, self-insured corporations and public entities.
• UK Company Markets (Dominion and Trent) UK property and casualty insurers in run-off: Dominion Insurance Company Ltd. (in run-off since 1994) and Trent Insurance Company Ltd. (in run-off since 1968, 100% subsidiary of Dominion).
• Loss Portfolio Transfer (LPT) Reinsurance Reinsurance solution covering prior accident years for ceding companies, transferring reserves and addressing claims volatility and adverse development. Includes Reinsurance to Close (RITC) transactions at Lloyd's.
• Insurance Company Acquisitions

Quantifiable outcome

• Over $5 billion in insurance liabilities assumed since founding in 2017
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• The HartfordminorOthers · 5 October 2020The Hartford sold Navigators Holdings (Europe) NV (ASCO) to Premia in 2021. Premia acquired the Continental European insurance group including Assurances Continentales NV in Belgium and Canal Re S.A. in Luxembourg.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Enstar Group: Enstar is the largest pure-play legacy/run-off insurance and reinsurance specialist globally, headquartered in Bermuda. It competes directly with Premia in P&C run-off reinsurance transactions, loss portfolio transfers at Lloyd's, and whole-company acquisitions of legacy insurers. Premia's UK platform and Syndicate 1884 (formerly run by Charles Taylor) most directly mirror Enstar's Atrium and Starstones operations, and the two firms are persistent bidders on the same major LPT mandates.
• DARAG Group: DARAG is a German-headquartered run-off specialist with significant Continental European presence and Bermuda platforms. It provides loss portfolio transfers and insurance company run-off services in non-life lines, directly overlapping with Premia's Premia Re and Premia Insurance Europe offerings. DARAG's appointment of Premia executives historically (and Premia's hiring of former DARAG leadership) underscores the tight competitive set.
• Randall & Quilter Investment Holdings: R&Q is a London-listed run-off specialist providing reinsurance and asset management solutions to legacy insurers. It pursues similar Lloyd's and non-life run-off transactions as Premia (RITC, LPTs, company acquisitions), though at a smaller scale. Premia Syndicate 1884 and R&Q's R&Q Insurance Solutions compete head-to-head for Lloyd's legacy portfolios.
• Compre Group: Compre is a specialist run-off acquirer and reinsurer headquartered in Bermuda with European operations. It underwrites legacy P&C portfolios and acquires insurance companies in run-off, in direct competition with Premia's Bermuda, Lloyd's, and Continental European platforms. Both firms primarily pursue the same ceding-company mandates in non-life lines.
• Catalina Holdings: Catalina is a Bermuda-based run-off consolidator that acquires and manages legacy insurance companies globally. Its core activities—acquiring insurers in run-off, providing reinsurance solutions, and managing assets of legacy books—directly mirror Premia's Premia Re, Premia Insurance Europe, and Public Service Insurance subsidiaries. Both target non-life legacy P&C and specialty run-off opportunities.
• Armour Group: Armour Group is a Lloyd's run-off specialist (acquired by Premia in 2021 per Premia's history, though still operates in some capacity historically). It manages run-off insurance portfolios and provides consulting services at Lloyd's, overlapping with Premia Syndicate 1884's run-off syndicate and Premia Managing Agency operations.
• Somers Re: Somers Re is a Bermuda-based run-off reinsurance platform sponsored by private-equity (Kelso & Company also has exposure here as a Premia board member). It competes in the same P&C legacy reinsurance market as Premia, with both leveraging insurance-linked and sidecar capital to execute loss portfolio transfers.
• Equitas Holdings: Equitas is the original Lloyd's run-off vehicle, established to manage 1992 and prior Years of Account liabilities. Premia's UK platform (Dominion, Trent) and Syndicate 1884 compete with Equitas for Lloyd's legacy portfolios and reinsurance-to-close transactions. Premia executive David Atkins started his career at Equitas Management Services.

Broad incumbents

• Chubb (run-off operations): Chubb (formerly ACE Limited) historically managed Brandywine Holdings, a $5 billion run-off operation led by Premia CEO Bill O'Farrell. While Chubb is primarily a live P&C carrier, its prior ownership of the run-off platform makes it both a talent source (two Premia executives came from Chubb) and a potential seller/cedent of legacy books to Premia.
• Arch Capital Group: Arch Capital is a global P&C insurer/reinsurer and a founding minority shareholder/strategic partner of Premia. Beyond financial sponsorship, Arch provides quota share reinsurance, underwriting, and operational support to Premia and competes (and at times partners) in legacy reinsurance transactions. Their relationship exemplifies the strategic-shareholder model used across the broader specialty insurance market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Premia Holdings