Fronting services provider Concert closes $100M capital raise

Insurance fronting services provider Concert Group Holdings Inc. has completed its targeted capital raise of $100 million.

Chairman Brady Young said favorable market conditions and pent-up client demand make this an opportune time to launch a fronting business. Concert Group's businesses include Concert Insurance Co.

Concert also unveiled key executives who report to CEO Jonathan Reiss, including CFO Michael Rybak, Chief Underwriting Officer Joe Alberti, Chief Legal officer Matthew Wagner and Chief Credit Officer Darian Ryan.

Raymond Rocchio Jr., senior vice president of underwriting, Christopher DuCharme, COO of Concert Insurance and Scott Stosek, vice president and controller of Concert Insurance also join in management roles.

Oppenheimer & Co. Inc. served as exclusive financial adviser to Concert, while Morris, Manning & Martin LLP was the legal adviser. Foley & Lardner LLP acted as lead counsel to the investors.