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Specialty Program and Risk Transfer Alternatives
SPARTA’s vision is to be the premier provider of customized unbundled program solutions
SPARTA Insurance Holdings, Inc. (SPARTA) was formed in March, 2007 to develop an underwriting company specializing in unbundled Alternative Risk Transfer ("ART") and Specialty programs for the commercial property and casualty insurance market in the United States.
In August 2007, SPARTA received regulatory approval from the Massachusetts Insurance Division to acquire an admitted, 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.
SPARTA is an acronym for Specialty Program and Risk Transfer Alternatives and operates 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") in which the risk is fully retained by SPARTA with risk sharing via a sliding scale
Programs typically average from $10 to $15 million in annual gross written premium and demonstrate a high degree of homogeneity by
- industry sector, or
- territory, or
- controlled production source
SPARTA's exclusive focus on and long term commitment to the unbundled program market, breadth of product offering along the continuum of risk sharing, unique depth of program management expertise, and leading edge technology have positioned SPARTA to become the carrier of choice in the ART and Specialty Program marketplace.
SPARTA is headquartered in Hartford, CT.
