Exclusive: MS Transverse brings in McGrath as head of program underwriting

Hybrid fronting carrier MS Transverse has appointed industry veteran and former AIG programs executive Tom McGrath as senior vice president and head of program underwriting, the company confirmed to Program Manager.

McGrath was most recently a senior vice president at AIG, overseeing a portfolio of 30 programs representing around $1 billion in annual gross written premium.

His career spans close to four decades across the insurance and reinsurance sector, with “deep expertise” in underwriting, operations, development and management of program business, said MS Transverse in a statement confirming the appointment.

McGrath will report to MS Transverse chief program officer Ethan Allen in his new role.

He will oversee underwriting execution across the hybrid fronting carrier’s MGA and program partnerships, with responsibility for strengthening underwriting consistency, supporting program growth and providing senior-level underwriting leadership.

This is aimed at ensuring disciplined underwriting, effective oversight and strong support for the company’s MGA partners as its platform continues to scale, MS Transverse continued in its statement.

MS Transverse CEO Dave Paulsson said: “Tom is a strong addition as we continue to scale our program business. He brings a proven track record managing large program portfolios and deep operational experience.

“Tom understands what it takes to deliver consistent underwriting results for MGAs, reinsurers and insureds, and that alignment is central to how we operate at MS Transverse.”

McGrath said: “The hybrid fronting model that MS Transverse has pioneered creates real value for program administrators and reinsurers alike. I look forward to working with Ethan and the team to strengthen our underwriting execution and deliver exceptional outcomes for our partners.”

Prior to his most recent position overseeing AIG’s U.S. programs business, McGrath led program teams at Old Republic Specialty Insurance Underwriters, Ace Insurance Group (now Chubb) and Munich Re, where he also worked as a reinsurance underwriter.

MS Transverse was upgraded to A-plus by AM Best last year, reflecting parent Mitsui Sumitomo Insurance Company’s support as well as the hybrid fronting carrier’s strong operating performance.

Mitsui Sumitomo Insurance completed its acquisition of Transverse Insurance Group in early 2023.