NEW YORK--(BUSINESS WIRE)--Southport Lane, a New York-based private equity firm, today announced that Chief Strategist Alexander Burns has been appointed to the board of directors of SABIR, the States Alliance for Balanced Insurance Regulation.
“As the insurance industry continues to face regulatory pressure and the potential introduction of federal oversight, it is important that members of the industry work together to strengthen the established state-run structure that has served the sector well for years”
SABIR works to protect and pursue the interest of the insurance industry as a whole, focusing on small and medium-sized insurers and other interested companies, organizations and individuals. The group’s objective is to oppose federal regulation of the insurance industry while working to improve and strengthen state regulation of the insurance sector.
“As the insurance industry continues to face regulatory pressure and the potential introduction of federal oversight, it is important that members of the industry work together to strengthen the established state-run structure that has served the sector well for years,” said Burns. “I am honored to join this prestigious group and look forward to working with its members.”
Founded in 2010, SABIR is chaired by Ernst Csiszar, Director with Bridge Strategy Group and former President of the National Association of Insurance Commissioners (NAIC), as well as Chief Executive Officer of the Property Casualty Insurers Association of America (PCI). Hon. Barry Goldwater Jr., a former Republican member of the United States House of Representatives from California, serves as President, and David Bass, President and CEO of Raptor Strategies LLC, based in Washington, serves as the association’s Executive Director.
ABOUT SOUTHPORT LANE
Southport Lane is a private equity firm founded in 2010 with investments in insurance and reinsurance. Among the firm’s portfolio investments is Southport Re, platform for Alternative Risk Transfer activities and Redwood Reinsurance SPC, Ltd. The firm is headquartered at 350 Madison Avenue and has total capital commitments in excess of $1 billion.
SABIR, founded in 2010, is a non-profit that educates and advocates on Capitol Hill, around Washington, D.C., and within the insurance industry for improvements to continued state based regulation and against an increasingly overreaching federal government. Member companies hail from a diverse array of insurance and reinsurance backgrounds, including but not limited to those of life, auto, health and medical malpractice. SABIR is based in Washington, D.C. and its membership is represented by firms with annual revenues in excess of $6 billion. For more information visit www.sabir-us.org.