August 20, 2025 – Platinum Specialty Underwriters is pleased to announce the launch of Gambit Risk Finance LLC (“Gambit Re”), a reinsurance vehicle founded by Platinum executives.
Gambit Re was initially launched to support Platinum’s own programs, based on our strong belief in the alignment of interests and the proven profitability of the Platinum portfolio. Building on that success, Gambit Re has evolved into a platform for broader reinsurance market participation through strategic partnerships. While it will continue to allow Platinum to launch new programs, attract top-tier underwriting talent, and deliver innovative specialty products, it is equally important to note that Gambit Re is designed to fill gaps in the wider insurance market by supporting third-party business opportunities sourced through the strong relationships Platinum has built across its networks.
At launch, Gambit Re will support five established and profitable Platinum programs, operating on a fully collateralized basis. This structure reinforces Platinum’s disciplined underwriting approach and creates a foundation for sustainable growth both within and beyond the Platinum portfolio.
Why this matters to you:
- More programs, faster – the ability to bring new solutions to market quickly.
- Expanded expertise – attracting new underwriters with specialized skill sets.
- Innovative offerings – products designed to address emerging and complex risks.
- Broader reach – opportunities to support third-party business through strategic market relationships.
Tom Ruggieri, CEO of Platinum Specialty Underwriters, said:
“Control of capital in order to deliver both top insurance products for our clients and best-in-class returns to investors, based on access to high-performing risk portfolios, is an important lever to the success of our business. Further, it connects Platinum to the convergence between reinsurance and capital markets that has been happening in property insurance for two decades but is new to casualty insurance covers.”
Mark Smith, President of Platinum Specialty Underwriters, added:
“Our goal has always been to pair underwriting expertise with the resources to act quickly when market opportunities arise. Gambit Re gives us the flexibility to launch new programs, empower our underwriters, and deliver enhanced solutions for our clients. It’s about growing smarter and serving better.”
Landon Parnell, Executive Partner of Platinum Specialty Underwriters, who was instrumental in Gambit’s creation and in building Platinum’s access to the reinsurance and capital markets, commented:
“Gambit Re is a game-changer for Platinum and our partners. It allows us to demonstrate conviction in our programs, expand with greater speed, and deliver innovative products that truly address our clients’ needs. This is a powerful step forward in building a sustainable, high-performing specialty platform with the flexibility to support both Platinum and third-party opportunities.”
Gambit Re marks a significant milestone in Platinum Specialty Underwriters’ growth strategy and underscores the company’s commitment to serving its clients and partners with agility, expertise, and confidence.
About Platinum Specialty Underwriters
Platinum Specialty Underwriters is the crucial component to underwrite challenging risks and accelerate wholesale business. Wholesale experts in complex risk arenas need a specialist partner that understands their challenges. Platinum is the specialist underwriting team that brings creative insurance solutions to unique and challenging risks. Platinum’s platform focuses on leading service technology combined with expert underwriting, claims management, loss inspection, and actuarial analysis to assure partner insurance company’s low loss ratios. By investing in teams and exclusive, best-in-class insurance underwriting products and services, Platinum can solve high risk problems, delivered by entrepreneurial experts.
Contact: Mark Smith msmith@platinummgu.com
