By David Bull

May 5 - (The Insurer) - Orchid Underwriters co-founder and former CEO Brad Emmons and former Victor chief Brian Hanuschak have teamed up to launch a tech-enabled MGA that will target M&A with backing from private equity firm GI Partners.

In a statement confirming the launch, the duo and their PE sponsor said the new platform will focus on acquiring and growing a diversified portfolio of MGAs across multiple lines of business.

“Its strategy centers on underwriting excellence, technology-driven operations, and a strong service orientation toward carriers, brokers, and policyholders,” it continued.

Further details of the startup’s business plan have not been disclosed.

Emmons co-founded U.S. property cat specialist MGA Orchid in 1998, which was scaled through organic growth and acquisitions as well as multiple PE recaps before being sold to Brown & Brown in 2022 for an initial $476.2 million in cash consideration.

Most recently he has been serving as CEO of property reciprocal Forza Insurance Holdings, as well as on the boards of several insurance services firm and as an advisor to industry entrepreneurs and insurance incubations.

Hanuschak is also a seasoned veteran in the sector and was CEO of Marsh’s Victor Insurance Managers, previously Schinnerer & Co. Under his leadership the MGA platform grew to in excess of $3 billion in annual premiums.

Commenting on the launch, Emmons said: “GI Partners has a strong track record of building growth platforms. We are excited to partner with MGA founders to accelerate their growth, strengthen capabilities through technology and analytics, and bring differentiated solutions to market.”

Hanuschak added: “Innovation, scale, and culture will define the winners in this space, and we're committed to helping entrepreneurs thrive.”

GI Partners has been an active investor in the P&C distribution and services space, including backing Insurity and retail broker Patriot Growth Services.

In partnership with Emmons and Hanuschak, the firm said it aims to create a “high-performance, tech-enabled MGA platform with national reach.”

“We see significant opportunity in the MGA market, where specialized underwriting and scalable technology drive real differentiation,” said GI Partners director Steve Johnson.

“We have been actively evaluating opportunities across the MGA landscape, from founder-led firms to corporate carve-outs and sponsor-backed businesses. Brad and Brian are uniquely positioned to help us identify, partner with, and scale leading MGAs,” he added.

The PE firm’s managing director and co-head of private equity added: “This launch reflects GI's long-standing ambition to build great companies. We look forward to partnering with Brad and Brian to build a world-class MGA platform that creates compelling value for our carrier partners, management, employees, and investors.”