Novacore expands Professional Underwriters Agency with addition of Euclid Design Underwriters. Jun 03, 2026, 08:00 ET Move strengthens PUA's leadership in architects and engineers professional liability and expands expertise serving design professionals nationwide. CONSHOHOCKEN, Pa., June 3, 2026 /PRNewswire/ - Novacore, an independent specialty insurance provider transforming insurance through underwriting expertise, technology and carrier partnerships, today announced the addition of Euclid Design Underwriters, LLC to its Professional Underwriters Agency (PUA) program. The move expands PUA's capabilities in architects and engineers (A&E) professional liability and further strengthens its position as a leading provider of specialty professional liability solutions. Euclid Design Underwriters is a specialized managing general agent focused on errors and omissions (E&O) coverage for architects, engineers and design professionals. The organization has built a strong reputation through technical underwriting expertise, longstanding broker relationships and a deep understanding of the unique risks facing the design professional community. With the addition, Euclid Design's team and capabilities will become part of PUA, enhancing the program's ability to deliver tailored solutions, expanded market access and exceptional service to agents and insureds nationwide. The Euclid Design brand will be integrated into PUA, creating a stronger and more comprehensive offering for the design professional market. "Professional liability remains a core area of strategic focus for Novacore, and the addition of Euclid Design further strengthens our expertise in serving design professionals," said Aaron Miller, Chief Executive Officer of Novacore. "The Euclid Design team has built a highly respected business with a strong underwriting culture and deep industry knowledge. This addition underscores our strategy of investing in proven specialty programs, deepening expertise within our existing portfolio and creating sustainable opportunities for profitable growth." "Euclid Design represents exactly the kind of specialized, high-caliber underwriting operation that defines excellence in the professional liability space. Chris and David have built something truly lasting: a respected brand, a loyal broker network, and a team that sets the standard for A&E expertise. We couldn't be more confident that Novacore is the right home to carry that legacy forward, " said Nick Colis, Chief Program Officer of Euclid Program Managers. The addition reflects Novacore's continued strategy of investing in specialized underwriting talent, expanding high-performing programs and building market-leading expertise across targeted specialty insurance sectors. Through PUA, Novacore now offers a broader suite of professional liability solutions backed by decades of underwriting experience and strong carrier partnerships. MarshBerry served as exclusive financial advisor to Euclid Design Underwriters for the transaction. About Novacore Novacore is an independent, next-generation specialty insurance provider with a bold mission: transforming insurance - for agents, carrier partners, clients and the future. Building on the 35-year track record of NSM Insurance Group, Novacore delivers industry-specific insurance programs through specialized underwriting, advanced technology and trusted carrier partnerships. The company partners with more than 20,000 agents nationwide and offers 20+ specialty programs across a diverse set of markets. For more information, visit novacore.com. About Euclid Design Underwriters Specializing in the underwriting of error and omissions for architects and engineers. Euclid Design Underwriters also offers risk consulting, contract review, and risk management support for a broad range of professional organizations. About Euclid Program Managers Euclid Program Managers ("Euclid") is a family of insurance program managers built on a platform of excellence. Each Euclid underwriting company is run by best-in-class underwriters who are equity partners in their business. This owner-operator model, combined with the resources of Euclid's broader infrastructure, leads to the highest level of underwriting results. For more information, visit www.euclidprograms.com SOURCE Novacore

Novacore launches New Mountain capital-backed sidecar to expand specialty program capacity. Apr 13, 2026, 07:00 ET NovaRe, Novacore's new collateralized reinsurance vehicle backed by New Mountain Capital's VictoryRe, will provide capacity for Novacore's MGA programs and enhance multi-year growth across the diversified P&C platform. CONSHOHOCKEN, Pa., April 13, 2026 /PRNewswire/ - Novacore, an independent, next-generation specialty insurance managing general agent, announced the launch of NovaRe, a new collateralized reinsurance vehicle structured to align interests with carrier and capacity partners across its managed programs. NovaRe is supported by New Mountain Capital, LLC ("New Mountain"), a leading growth-oriented alternative investment firm headquartered in New York and Novacore's strategic capital partner, via the establishment of VictoryRe. This new platform marks the firm's entry into the reinsurance carrier market with a long-term vision to build a diversified, multi-line reinsurance platform. NovaRe will operate as a dedicated vehicle within VictoryRe. The sidecar intends to provide incremental, multi-year premium capacity to support Novacore's platform, enabling efficient response to market opportunities while preserving balance sheet stability for carrier partners. NovaRe will participate on a risk-attaching basis across diversified property and casualty portfolios within Novacore's platform, aligning capital providers, carrier partners and Novacore's underwriting teams through shared risk and shared return. Aaron Miller, Chief Executive Officer of Novacore, stated, "NovaRe represents a natural extension of our underwriting-first philosophy. We are committed to growing with our carrier and capacity partners in a disciplined and sustainable manner. With the support of New Mountain Capital, we are able to thoughtfully expand capacity behind programs that have demonstrated consistent performance, strong controls and differentiated market positioning." Chase Clark, Chief Operating & Underwriting Officer of Novacore, noted, "Our platform has always been built on underwriting expertise, diversified distribution and disciplined program management with profitability always being our primary focus. This initiative strengthens our ability to support carrier partners with capital-efficient growth while maintaining the same rigorous standards that define the Novacore brand." Robert Mulcare, Managing Director at New Mountain, observed, "Novacore has consistently demonstrated its ability to identify attractive specialty markets and execute with underwriting precision. The structure underscores our shared commitment to responsible growth, disciplined risk management and sustainable value creation across the specialty insurance landscape." Cyrus Moshiri, Head of Structured Credit at New Mountain added, "We are pleased to support this capital solution, which aligns long-term investment capital with a diversified portfolio of well-managed programs." The launch of this sidecar underscores Novacore's continued commitment to innovation in specialty program management while continuing to deepen partnerships across the carrier, reinsurance and specialty program ecosystem. About Novacore Novacore is an independent, next-generation specialty insurance provider with a bold mission: transforming insurance - for agents, carrier partners, clients and the future. Building on the 35-year track record of NSM Insurance Group, Novacore delivers industry-specific insurance programs through specialized underwriting, advanced technology and trusted carrier partnerships. The company partners with more than 20,000 agents nationwide and offers 15+ specialty programs across a diverse set of markets. For more information, visit novacore.com. About New Mountain New Mountain is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with nearly $60 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, visit www.newmountaincapital.com. SOURCE Novacore

Markets/Coverages: INSTANDA MAX launched for commercial lines insurers; Novacore Launches Aerospace Segment. April 7, 2026 Artificial intelligence-enabled program administrator INSTANDA said its launch of INSTANDA MAX enables commercial lines and non-admitted insurers to underwrite tens-of-thousands of complex assets under a single policy at both the portfolio and individual item level in real-time. Patent-pending INSTANDA MAX is designed for commercial lines where asset volumes and complexity have historically constrained underwriting accuracy and productivity. INSTANDA MAX anchors scale in insurance-grade categorization at the individual item level, with AI-assisted analysis and insights to support data-driven decisions for greater underwriting accuracy, improved pricing, and faster response at quote, mid-term adjustment (MTA), and renewal. "Commercial line insurers have traditionally been forced to underwrite large, complex asset classes using aggregated data and broad assumptions, because the operational burden of doing otherwise was simply too high," said Tim Hardcastle, CEO and co-founder of INSTANDA. "INSTANDA MAX removes that constraint. For the first time, commercial line insurers can process bulk policies containing thousands of assets while still applying granular, measurable data to each individual item, supported by strong data governance, human oversight, ecosystem integration and frictionless operational AI." INSTANDA MAX has been built with the existing INSTANDA design and augmented with AI, supporting human decision making with features including a quote/policy query assistant and a wording assistant (including clauses and endorsements), with richer features to come later in 2026. Novacore Launches Aerospace Segment Novacore announced the launch of its aerospace segment, expanding its platform into aviation and space risk markets. The new segment is designed to deliver specialized underwriting solutions for complex aerospace exposures, with a disciplined approach to risk selection, capacity deployment and long-term, profitable portfolio performance. To lead the segment, Novacore has appointed Rob Schenone head of space. He brings more than 35 years of experience across aviation and space insurance. He most recently served as head of aerospace & underwriting manager, space - Americas at AXA XL. Tom Callahan will lead as head of aviation, contributing more than 35 years of aerospace underwriting experience. He has held senior underwriting leadership roles, including serving as chief underwriting officer, aviation & global head of underwriting management, Aerospace at AXA XL The Aerospace segment will focus on aviation and space risks, two highly specialized markets characterized by complex exposures, evolving capacity dynamics, and a need for technically sophisticated underwriting partners. Was this article valuable? Interested in aerospace? Get automatic alerts for this topic.