2. BinderGroup

BinderGroup was est. 2024 in Denmark, founders Joel Milos and Anders Pedersen. The company underwrites multiple lines of business, including Workers’ Compensation, Cyber, Media/Tech PI, and Financial Lines.

Opportunity:

BinderGroup has been offered the possibility to take over RTM’s entire property portfolio by matching current pricing levels. GWP DKK 35m (EUR 4.7m) as of 1.1.2027.

Business Plan 2028 82m (EUR 10.5), 2029 145m (EUR 19m)

Gallagher will be the MGA broker.

Sedgwick Denmark is proposed as TPA (BinderGroup does not have claims handling capacity)

• Introductory call - Done Pierre/Peter
• Setup NDA - Done Peter, sent in Tomorro, pending signature
• Received Property Insurance Business Plan and UW Guidelines
• Requested policy overview, pricing tables
• Deep dive in RTM portfolio
• Pricing model walkthrough scheduled for 15 July 2026

Pricing walkthrough unconvincing. No information on RTM portfolio available. Doubts about execution.

We declined the opportunity.