Banyan Risk Expands Into US Excess and Surplus Market
The Bermuda-based specialty firm is launching a new US casualty platform backed by Accredited Specialty Insurance Company.
Updated on Oct. 20, 2026 in Insurance
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Banyan Risk Ltd has officially entered the United States excess and surplus market with a new casualty platform. The expansion, led by Alan Rodrigues, utilizes the firm's data-driven underwriting model to address complex risk profiles.
Why it matters
The firm is targeting the US market to address challenges such as rising loss severity, social inflation, and litigation financing. These factors have increasingly impacted risk selection as appetite in the traditional admitted insurance market shifts.
Total US domestic E&S direct premiums reached $105.31 billion in 2025, representing a 7.8% year-on-year increase. During the first half of 2025, casualty insurance accounted for 52% of total E&S premiums.
The players
Banyan Risk Ltd
This is a specialty managing general agent based in Bermuda that focuses on complex risk underwriting.
Accredited Specialty Insurance Company
The company serves as the provider of insurance capacity for the new Banyan Risk platform.
Alan Rodrigues
He is the lead executive responsible for overseeing the new US excess and surplus casualty offering.
The details
Banyan Risk will leverage its portfolio analytics and structured underwriting workflows to manage the new US casualty franchise. The company intends to hire additional casualty underwriters throughout the United States to increase its regional distribution capacity.
Timeline
2024: Banyan Risk established its Bermuda excess liability operation.
First half 2025: US excess and surplus premiums grew to $46.2 billion.
2025: US domestic excess and surplus premiums reached $105.31 billion.
April 2026: S&P Global Market Intelligence released analysis on premium trends.
October 20, 2026: Banyan Risk announced its expansion into the US market.
Market Dynamics
This move reflects a strategic effort to capture market share within the $105.31 billion 2025 US domestic excess and surplus market. It highlights a wider industry trend of specialized firms scaling operations to compete in segments experiencing high loss severity.
The expansion may signal broader availability for complex casualty risk coverage across the US commercial sector. Businesses seeking specialized insurance policies may benefit from the increased underwriting capacity introduced by this new market entrant.
The takeaway
The move underscores how specialty insurers are prioritizing data-heavy underwriting to navigate the current volatile loss environment. Firms are increasingly moving to provide capacity in high-demand segments where traditional admitted insurers are tightening their exposure.
Further reading
For broader trends in the sector, see our guide to Insurance.
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