MISSION-backed MGU Laplace Alternative Risk Solutions Launches with Structured Insurance Programs to Address Complex Risk Gaps

New MGU delivers multi-year, capital-efficient tailored solutions backed by actuarial rigor and advanced risk analytics  

ALPHARETTA, Ga., Sept. 9, 2025 /PRNewswire/ -- Laplace Alternative Risk Solutions, a newly formed managing general underwriter (MGU) focused on alternative risk transfer (ART) solutions for large corporate insureds with complex, and hard-to-place risks, launches today with its structured insurance programs.

Named after the French mathematician Pierre-Simon Laplace, whose work laid the foundation for statistical risk modeling, the company reflects a commitment to analytical precision and innovation in risk transfer. Laplace focuses exclusively on alternative risk transfer (ART), designing custom-built, multi-year programs that blend self-funding mechanisms with excess-of-loss protection. These programs enable insureds to retain a portion of their premium within the structure, creating potential for profit participation if losses remain low.

Laplace's programs are backed by highly rated capacity (A- IX or better), with current limits starting at $10 million per occurrence and $10 million in aggregate. The company offers both multi-line and mono-line programs, with coverage available across Property, General Liability, Auto Liability (buffer), Miscellaneous Professional Liability, D&O, and additional lines. Laplace also offers facultative reinsurance to captives and carriers for structured solutions.

Part of the MISSION portfolio of programs, Laplace was founded by Richard Zhang, a recognized expert in alternative risk transfer (ART) with more than 30 years of global insurance experience. Zhang will serve as the company's Chief Executive Officer.

Laplace's launch comes at a critical moment for the commercial casualty market, which continues to face mounting pressure from social inflation, litigation financing, and emerging exposures such as PFAS and social media liability. "Traditional insurance markets are struggling to keep pace with the scale, complexity, and volatility of today's commercial risks," said Richard Zhang, Founder and CEO of Laplace. "Structured solutions offer large companies a more stable, capital-efficient way to manage exposures that the standard market often avoids. As premiums rise and capacity tightens, demand is accelerating for tailored programs that blend risk retention with intelligent risk transfer."

Joining Zhang is Edmund Scanlon, who brings more than 35 years of actuarial and underwriting experience to Laplace. As Chief Actuary, Scanlon supports the CEO by leading risk analytics, modelling, and pricing - ensuring the company's strategic direction is grounded in robust actuarial models that reflect client loss patterns, industry guidance, and actuarial discipline.

Laplace was launched and will be fully supported by MISSION, a technology-driven global underwriting company empowering world-class talent to build specialist insurance programs.

"In today's environment, brokers and insureds must collaborate more strategically than ever. As traditional insurers retreat from certain classes of risk, structured insurance solutions are emerging as an essential tool for large corporates seeking capital-efficient coverage, volatility management, and long-term financial predictability," said Jim Dwane, CEO of MISSION. "At MISSION, we are proud to work with leaders like Richard Zhang to address market gaps and innovate for the benefit of the market. We welcome Laplace to the MISSION family and look forward to supporting the company as it works to address complex risks."

"Partnering with an expert of Richard Zhang's caliber to launch Laplace addresses a critical need in the market for sophisticated, flexible risk solutions. This isn't just about a new MGU; it's about embedding a core Alternative Risk Transfer capability that significantly enhances the value proposition across our entire ecosystem. With Richard at the helm, we can offer our partners truly bespoke tools to manage volatility and optimize capital in an ever-evolving world of risk, positioning Laplace to become a leader in the ART space," said Joe Zuk, MISSION board member.

Laplace's programs are available now for insureds located in the United States, with potential for geographic expansion upon mutual agreement. Submissions are currently open for quoting.

About Laplace Alternative Risk Solutions
Laplace Alternative Risk Solutions builds custom structured insurance programs for large and complex risks that are underserved or overpriced in the traditional market. Focused exclusively on alternative risk transfer (ART), Laplace delivers multi-year, capital-efficient solutions by combining actuarial expertise, financial structuring, and collaborative broker relationships. Laplace is part of the MISSION Underwriters portfolio of MGUs.

About MISSION
MISSION is a technology-driven global underwriting company empowering world-class talent to build specialist insurance programs. MISSION offers entrepreneurial underwriters the capacity, expertise and resources they need to quickly and successfully bring their insurance products to market.

SOURCE Laplace Alternative Risk Solutions