DOXA launches property reinsurance MGU targeting quota share capacity

DOXA has launched DOXA Re, a property reinsurance managing general underwriter focused on quota share and proportional structures, and named James Femia as president, according to Insurance Business America. Femia spent 22 years at SiriusPoint and its predecessor Sirius International Insurance Group, where the report says he rose from underwriting assistant to head of US non-cat property reinsurance. His book there covered E&S property treaty, start-up MGA programs, and proportional and per-risk excess of loss structures.

Premium ceded by US program carriers into the reinsurance market rose 18% in 2025 to $21.2 billion, according to Gallagher Re’s 2026 MGA Market Report as cited by Insurance Business America. Total estimated MGA market premium was above $125 billion, the report adds. The same report cites Amwins’ 2026 MGA marketplace update, which described whole-account quota share as a developing concept rather than a widely adopted solution and said reinsurers have grown more selective, favoring programs with strong analytics and repeatable processes.

“DOXA Re addresses a growing need for specialty underwriting expertise in the quota share reinsurance marketplace,” said Joe Guerrero, DOXA’s chief product and underwriting officer. Guerrero added that access to reinsurers with both the expertise and appetite to participate remains limited as MGA and hybrid-carrier programs expand.

DOXA Re will underwrite across products, client segments, geographies and risk classes, and will sit inside DOXA’s existing operational infrastructure while recruiting underwriting and analytics staff. Goldman Sachs Asset Management acquired DOXA in late 2023, according to the report. In 2026, the firm acquired Jupiter Underwriting Group in April, completed the LimitFi deal in July and closed the UK acquisition of Eaton Gate Group in October, the report says. Building a reinsurance book from scratch, rather than buying one, departs from that pattern.