Real Estate Risk Mitigation Pioneer Secures Major Increase in Backing to Improve Renting Process for Landlords and Renters
NEW YORK, NY / ACCESSWIRE / October 17, 2024 / TheGuarantors, a leading provider of renter risk mitigation solutions for multifamily operators, today announced the expansion of its exposure capacity to $5 billion. With the addition of three new carriers, including Hudson Insurance Group and Trisura, TheGuarantors now partners with 10 carriers and reinsurers. This growth underscores the company’s superior underwriting, loss ratio performance, and operational discipline.
“We’re witnessing an unprecedented appetite for our products,” said Julien Bonneville, CEO and founder of TheGuarantors. “By strategically balancing carrier partnerships, reinsurance, and our own captive, we’ve created an unparalleled infrastructure to help address the fact that each year, millions of U.S. renters don’t qualify for the apartment they want. This expanded capacity allows us to continue to drive the establishment of a category that can improve the renting experience for so many more households and operators.”
Christopher Gallagher, CEO of Hudson Insurance Group, added, “Hudson has supported program administrators for over 20 years and we’re excited to bring our capacity, financial strength and security to support TheGuarantors’ expansion. We’re eager to help them reshape the landscape of risk management in residential real estate and believe they have a unique formula, based on their platform and people, to achieve success.”
TheGuarantors’ products create value across the real estate ecosystem, offering enhanced protection for landlords, better access for renters, and sustainable exposure for insurance carriers. The company’s approach and growth has secured a position on the Inc. 5000 list of fastest-growing companies for four straight years.
The multifamily sector has seen skyrocketing operating expenses over the last few years, putting a major strain on operating income and driving downward pressure on property values. With an estimated $15 billion lost annually by operators from rent defaults alone, TheGuarantors will leverage its increased capacity to offer more landlords the tools they need to reduce losses and safeguard profitability in a challenging market environment.
About TheGuarantors
TheGuarantors is a fintech company working to improve access for the 46 million American households that rent their homes. Through its platform and partnerships with multiple A-rated carriers, TheGuarantors offers renters and landlords a comprehensive suite of financial tools designed to benefit both sides. The company ranks on the lists of the Inc. 5000, Forbes’ Best Startup Employers, and The Financial Times’ Fastest-Growing Companies.
About Hudson Insurance Group
Hudson Insurance Group is a market-leading specialty insurer that offers a wide range of property and casualty insurance products to corporations, professional firms and individuals through retailers, wholesalers and program administrators. Headquartered in New York City with offices throughout the U.S. and in Vancouver, Canada, Hudson underwrites specialty primary and excess insurance on both an admitted and non-admitted basis. Its companies are rated A+ (Superior) by AM Best, Financial Size Category XV.
Hudson Insurance Group is the U.S. Insurance Division of Odyssey Group Holdings, Inc., a leading global provider of reinsurance and specialty insurance. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited. For more information, visit hudsoninsgroup.com.
Contact Information
Amanda Knauer
Chief Marketing Officer
amanda.knauer@theguarantors.com
SOURCE: TheGuarantors
View the original press release on newswire.com.