By Chris Munro

March 20 - (The Insurer) - Houston Casualty Company $(HCC)$ and Houston International Insurance Group (HIIG) founder Stephen Way has launched a new MGU called SLW International which will initially write global specialty reinsurance on a facultative and treaty basis along with program business on the AM Best A-minus rated paper of Fortegra.

In a social media post, Wat said he had entered into an agreement with Fortegra to write a selective book of specialty reinsurance on a worldwide basis.

“SLW International LLC will opportunistically underwrite facultative risks, a few proportional treaties, and selective program business,” he said. “Acquisitions will be part of our future.”

Way is joined at SLW International by Renee Montgomery as chief financial officer and Ed Ellis as a director.

Montgomery and Ellis have worked with Way for more than 30 years during his time at HCC and HIIG.

In a separate post, Way said his startup MGU was getting ready to underwrite a book of global property fac and treaty reinsurance business.

The executive said plans are in place to expand beyond an initial property and programs focus, potentially through what he described as “key hires”, or via the acquisition of other small and medium-sized MGUs.

“We will be writing for profit not volume; focused on patient, disciplined underwriting; and well-funded without private equity,” Way said.

While Way has launched SLW International, the Houston, Texas-based industry veteran said his consulting activities “remain active and available without conflict”.

Way’s career in the insurance industry stretches back well over 50 years. He began his career as a Lloyd’s broker, before joining New York-based MGA Stewart Smith Insurance Brokers to underwrite aviation insurance.

He then founded HCC in 1974, before leaving the business in 2006.

The following year, Way launched Southwest Insurance Partners, which would ultimately become HIIG in 2010 and was acquired by Canadian investor Westaim in 2014.

Way left HIIG in 2020 in what was seen as a surprise move, with the company founder replaced at the carrier’s helm by former The Hanover and Crawford & Co executive Andrew Robinson.

HIIG rebranded to Skyward Specialty Insurance Group in 2020 and went public in January 2023.