Shevawn Barder on building a 'future-proof' E&S business

AM Specialty's CEO shares life lessons from the sector, and why she's excited about its future.

The Excess & Surplus (E&S) lines sector is known for its creativity and complexity. Once the “market of last resort,” it’s now one of the insurance industry’s most dynamic growth engines.

Within this space, Shevawn Barder (pictured) has carved out a distinctive leadership path. As the CEO and principal of AM Specialty Insurance Company (ASIC), Barder brings over three decades of experience in re/insurance, built on a foundation of Lloyd’s of London expertise, entrepreneurial drive, and a deep belief in the enduring relevance of E&S.

“The E&S market,” Bader said, “is a future-proof market. It’s incredibly dynamic and client-oriented, two traits that drive real passion.”

From London to leadership

Barder’s career began with elite training at Lloyd’s of London, where she honed her understanding of E&S fundamentals. This experience would prove instrumental when she transitioned to the US market.

In 2000, alongside her husband and business partner Simon, Barder co-founded MarineRe, an agency that quickly grew till its acquisition by Ironshore in 2008. She continued leading as president of Ironshore Marine Re until 2012, when the Barders pivoted to build a new platform: ASIC.

Today, ASIC stands as a privately owned, Arizona-domiciled E&S carrier, writing general liability, transportation, marine, and other specialty lines, while also acting as an accredited reinsurer in select states.

But beyond its portfolio and structure, ASIC reflects Barder’s personal philosophy: a hands-on, data-driven, client-first business built for long-term relevance.

“Building AM Specialty has been a wonderful dream for me,” she told Insurance Business. “Working with the team of people that we have hand-picked – it’s been an amazing journey. I feel that is unique in the market today. We are intrinsically involved with everything within the business model – from the initiation of the business, to the monitoring process, to the structure of the monitoring process.”

“Relationships matter” in the dynamic E&S space

After several years of admitted-market retrenchment, driven by catastrophe volatility, social inflation, and tighter underwriting discipline, capacity and innovation have migrated to E&S.

The result? Double-digit premium expansion in recent years, broader product development, and a permanent reset in how commercial and personal specialty risks are financed. In this environment, Barder’s deeply relational leadership style has blossomed.

“It’s the relationships that create passion,” she said. “We’ve built several businesses from scratch, and when you bring people into that journey - when you train them, grow with them - it creates something real.”

For Barder, the explosive growth of the E&S market comes down to the “domestication of risk.” As the US economy matures and becomes more risk-aware, she said, the need for customizable, responsive coverage has intensified.

“There’s a high level of familiarity and service orientation in the US now,” Barder said. “Why move business abroad when you can have it serviced domestically by people who understand the risk landscape?”

She sees this trend not as a temporary boom, but as a long-term shift. “The E&S market is almost future-proofed,” said Barder. “Especially in an economy as stable and resilient as the US, the next cycle looks very positive.”

Embracing technology in E&S underwriting

Despite the growth, Barder remains discerning about which parts of the E&S world she wants to play in. One example: catastrophe risk. While AM Specialty doesn’t write this risk, it doesn’t mean its leaders are ignoring the complexities of the property market.

With increasing catastrophe exposure from wildfires and extreme weather, Barder noted that the property space has become more nuanced and reliant on advanced tools such as collateralized capacity, cat bonds, and sophisticated mapping.

“Technology and data must support every part of the underwriting process,” she said.

ASIC has embraced technology, building a proprietary platform to visualize data and benchmark performance. But Barder believes underwriting discipline still lies in the fundamentals.

“It’s about knowing the risk,” she said, “then supporting that knowledge with data and monitoring.”

She credits ASIC’s disciplined approach to the rigorous training both she and Simon received in the Lloyd’s environment.

“We run our company like a syndicate, structured and detail-oriented,” she said. “It’s helped us build a very tight, controlled model.”

Advice for the next generation

Growth in the E&S space breeds exceptional opportunities for new talent. Barder believes insurance remains one of the most underappreciated industries, especially among younger professionals.

“It’s international. It’s diverse. It’s people-oriented,” she said. “Now, with data and technology becoming core to the model, it’s even more multifaceted.”

For those eager to explore the E&S sector, the CEO had straightforward advice:

“Jump in and don’t be afraid,” she said.

“Understand the full chain: underwriting, claims, data, and client management. And take your time – it’s a lifelong career.”

Barder also encouraged curiosity, mobility, and learning through experience: “Insurance can take you anywhere. Working in different geographic regions pushes you to grow, not just professionally, but personally.”

Amidst her success, Barder remains grounded in the human element of the profession.

“At the end of the day, you’re just trying to help someone,” she said. “Insurance creates stability within society and the economic model. If you can effectively communicate with your client and understand their needs, you will have a solid relationship.”