Exclusive: Shepherd working on primary and excess energy program after Casella hire

By Chris Munro

June 5 - (The Insurer) - Shepherd is working on securing capacity to support a primary and excess program targeted at the energy industry after the MGU drafted in Alex Casella from Chubb to spearhead its entry into the vertical.

Casella has joined Shepherd as energy practice lead.

“With deep experience across both underwriting and broking - and sharp insight into the energy sector - Alex is the right leader to scale our presence in renewables, power, and more,” Shepherd CEO Justin Levine said in a social media post.

Levine separately confirmed to Program Manager that Shepherd is moving quickly to secure capacity support for a primary and excess casualty program aimed at the energy market.

And Levine also said Shepherd plans to hire additional underwriting support as it looks to grow in the energy space, along with leveraging the company’s current capabilities and its existing team.

The move into energy comes shortly after Shepherd in March secured capacity support from Allianz to back a builders’ risk program.

As Program Manager exclusively reported at the time, the program is offering nationwide admitted coverage on A-plus rated paper from AGCS Marine Insurance Company.

The builders’ risk offering is aimed at general contractors, developers and project owners and has an appetite focused on commercial risks and more specifically non-combustible construction.

In addition to project-specific placements, the Justin Levine-led insurtech plans to support clients with master builders’ risk programs, offering portfolio-wide rate and coverage certainty.

The nationwide program, designed to complement Shepherd’s previously launched suite of construction-focused casualty products, also offers selective support for wood frame and catastrophe-exposed regions with limits deployed primarily in a lead position.

That coverage is offered as either a standalone coverage solution or quota share for larger placements.

Shepherd can also support larger project types up to $150 million in limit, also on a standalone basis and subject to additional underwriting review.

The MGU, which launched in early 2022, has a product portfolio targeted at middle market to major accounts that spans primary casualty lines including general liability, workers’ compensation and commercial auto, along with umbrella and excess casualty.

Levine earlier this year told Program Manager that Shepherd had tripled its premium volume in 2024, a year in which the MGU “shifted” its core value proposition.

The executive in January said Shepherd in 2025 would look to branch out into industry verticals beyond its historic construction focus, with the energy play a notable example of that.