Penn-America Underwriters launches reinsurance MGA

Penn-America Underwriters, a subsidiary of Global Indemnity Group, has launched its first reinsurance managing general agency (MGA) as part of GBLI’s broader expansion strategy. The new unit is led by veteran reinsurance executive George Dragonetti, who joins as president.

The move marks the first de novo venture in Penn-America’s MGA platform expansion and strengthens its presence in the reinsurance market. Dragonetti, who brings over three decades of experience—including leadership roles at Emerald Bay Risk Solutions, Nav Re, and RLI Re—will oversee underwriting and growth initiatives for the new reinsurance platform.

According to GBLI Chairman Saul Fox, the launch aligns with the company’s Manifest initiative, aimed at expanding its specialty capabilities across both insurance and reinsurance.

Penn-America Underwriters operates as a division of GBLI, alongside agencies such as J.H. Ferguson & Associates, Vacant Express, and Collectibles Insurance Services, as well as affiliated businesses including Sayata, Liberty Insurance Adjustment Agency, and Kaleidoscope Insurance Technologies.

“This launch represents a major milestone in our development as a specialty provider of insurance and reinsurance products and services. In partnership with George Dragonetti and with George at the helm, we are confident in our ability to drive innovation, growth, and superior underwriting performance for our new reinsurance platform.” – President & CEO of Penn-America Underwriters, Praveen K. Reddy.