New specialty insurer announces completion of funding
"We're very pleased to have completed these transactions with an extremely knowledgeable and high caliber group of investors" said George L. Estes, III, SPARTA Chairman & CEO. "We look forward to further developing our operations and participating in the marketplace". SPARTA, which is an acronym for Specialty Program and Risk Transfer Alternatives, intends to underwrite property and casualty insurance for the specialty and alternative risk program marketplace.
"We're excited to be operating in Hartford which has a great financial services infrastructure and places us in close proximity to our advisors and service providers," added Estes. "We hope our presence can add to the ongoing renaissance of the city and that other start up companies will call Hartford home".
In addition to Mr. Estes, SPARTA's founding officers include Kevin G. Costello, President and COO, of West Hartford, CT, and Dawne E. Ware, Chief Financial Officer, of Farmington, CT.
"SPARTA's arrival is further proof that downtown Hartford is a great place to build a business, grow jobs, and compete in the world market," stated Hartford Mayor Eddie A. Perez. "Once again, companies are investing in our city, our workforce, and our region. We anticipate and look forward to seeing more of this type of activity in Hartford in the near future."
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