Leadership team that grew NSM Insurance Group into a $2B specialty insurance powerhouse launches a new entity focused on growth and innovation
CONSHOHOCKEN, Pa., April 17, 2025 -- Ignyte Insurance today officially launched as a specialty insurance platform dedicated to acquiring, scaling and accelerating high-performing insurance brands in niche markets around the world. A portfolio company of global investment firm Carlyle since 2022, Ignyte marks a bold new chapter in the evolution of specialty insurance.
Leadership team that grew NSM into a $2B insurance powerhouse launches a new entity focused on growth and innovation
Ignyte launches following the recent sale of NSM Insurance Group's U.S. commercial business to New Mountain Capital. The company is led by seasoned industry veterans Geof McKernan, Bill McKernan and Marc Castellucci — an executive team with over three decades of experience in building and scaling successful insurance platforms. Under their leadership, Ignyte is poised to accelerate its mission of delivering innovative, consumer-centric insurance solutions across niche markets globally. The company's growth strategy is driven by a proven acquisition model, deep underwriting expertise, and a disciplined investment approach.
"Today marks an exciting new chapter," said Geof McKernan, CEO of Ignyte Insurance. "Ignyte represents more than a name — it embodies the entrepreneurial spirit, innovation and grit that have fueled our growth for over three decades. Others may turn away from unique or complex niche industries — but we run toward them. We're laser-focused on identifying high-performing companies and sectors, and helping them scale through differentiated strategies, technology and talent. We've built a world-class platform — and now, we're ready to go even further and faster."
Ignyte is now home to a growing global portfolio of specialty insurance brands spanning collector car, travel medical, international student health, leased equipment and other embedded insurance products. Backed by scalable capital, transformative technology and deep operational support, Ignyte empowers its portfolio companies to grow, innovate and deliver exceptional service. Together, they manage over $650 million in premium and serve millions of customers worldwide, with a presence in the U.S., UK, Europe and Australia.
"We're incredibly proud of what we built at NSM Insurance Group over the past 35 years, but it was time to take on a new challenge," said Bill McKernan, President of Ignyte Insurance. "We've proven our ability to build and scale successful companies, and with Ignyte, we're ready to take that to the next level. The opportunity ahead is massive.
And why the 'Y' in Ignyte? Because we don't follow the crowd. We build brands that defy expectations, uncover untapped potential, and deliver something truly different. We're building something extraordinary — and we're just getting started."
For more information about Ignyte Insurance and its portfolio of brands, follow us on LinkedIn.
About Ignyte Insurance
Ignyte Insurance is a specialty insurance platform focused on building and scaling high-performing specialty insurance brands in unique, niche markets. The company's core strategy centers on acquiring and growing specialized insurance businesses that offer differentiated products and exceptional customer service. Backed by a strong track record of innovation and disciplined growth, Ignyte is committed to driving consistent underwriting performance, operational excellence and long-term value creation.
With more than $4 billion in executed transactions, Ignyte is one of the fastest-growing specialty insurance platforms in the industry. Today, its diversified portfolio represents $650 million in premium and includes market-leading solutions for classic and collector cars, travel medical, international student health, leased equipment and specialist MGA platforms.
For more information, follow Ignyte Insurance on LinkedIn.
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