The Excess and Surplus (E&S) insurance market is experiencing significant growth, driven by its unique ability to adapt to changing client needs. Once viewed as a last resort for hard-to-insure risks, this sector has become a thriving part of the insurance landscape. Shevawn Barder, the CEO of AM Specialty Insurance Company (ASIC), is a key figure in this evolution. With over 30 years of experience in re/insurance, Barder has a strong background that began at Lloyd’s of London, which laid the groundwork for her success in the U.S. market.
Barder believes the E&S market is “future-proof.” She emphasizes its dynamic nature and client focus, which fuels her passion for the industry. Her journey began with rigorous training at Lloyd’s, where she gained a solid understanding of E&S fundamentals. In 2000, she and her husband Simon co-founded MarineRe, a company that quickly grew and was acquired by Ironshore in 2008. Barder continued her leadership role at Ironshore until 2012, when she shifted her focus to building ASIC.
Today, ASIC operates as a privately owned E&S carrier based in Arizona, writing various specialty lines, including general liability and marine insurance. Barder’s approach to business reflects her personal philosophy: a hands-on, data-driven model that prioritizes client relationships and long-term relevance.
The E&S market has seen double-digit premium growth in recent years, thanks to a shift in capacity and innovation from the admitted market. Barder’s relational leadership style has thrived in this environment. She highlights the importance of building strong relationships in business, stating, “It’s the relationships that create passion.” As the U.S. economy matures, the demand for customizable insurance coverage has increased, leading to what Barder calls the “domestication of risk.” She believes that businesses are more inclined to seek domestic solutions from professionals who understand local risks.
Barder also embraces technology in underwriting, recognizing its importance in managing risks, especially in the wake of increased catastrophe exposure from events like wildfires. ASIC has developed a proprietary platform to visualize data and benchmark performance. However, Barder insists that a solid understanding of risk remains crucial, supported by data and monitoring.
Looking ahead, Barder sees immense potential for new talent in the E&S sector. She encourages young professionals to explore opportunities in insurance, which she describes as diverse and people-oriented. Her advice is simple: “Jump in and don’t be afraid.” She emphasizes the importance of understanding the entire insurance process, from underwriting to client management.
Barder remains grounded in the human side of the business, reminding us that at its core, insurance is about helping people. As she puts it, “At the end of the day, you’re just trying to help someone.” This focus on service and understanding clients’ needs is what she believes will strengthen relationships in the industry.