Group additionally establishes UK counterpart of acquired MGA
Texas-based AM Specialty Insurance coverage Group, via its holding firm AM Holding Firm, has acquired nationwide program administrator, managing basic company, and surplus traces brokerage Pinpoint Insurance coverage Options for an undisclosed sum.
The swoop coincides with the formation of Pinpoint UK in London, marking AM Specialty’s growth within the extra and surplus insurance coverage sector in each the US and Britain.
Brad J. Sickinger, who established the MGA in 2021, will stay on the helm in his capability as president of Pinpoint US.
The British underwriting platform, in the meantime, is about to be led by Darren Powell as Pinpoint UK chief underwriting officer beginning September 2024. Moreover, Shaun Packman will oversee the London-based entity’s operations.
“This acquisition represents a major step ahead for us in enhancing our specialised insurance coverage choices,” AM Holding Firm chief government Shevawn Barder (pictured) declared. “Pinpoint’s experience enhances our strategic imaginative and prescient, permitting us to broaden our attain and deepen our capabilities in key area of interest markets.”
Underneath the AM Specialty umbrella, Pinpoint could have entry to the group’s strong infrastructure and assets, important for scaling the excess traces specialist’s options.
“We’re thrilled to hitch AM Specialty Insurance coverage Group,” commented Sickinger. “This partnership marks a milestone in our journey, aligning our revolutionary approaches with an organization that has a powerful status in specialty insurance coverage markets. Collectively, we’ll drive larger innovation and worth for our purchasers.”
In the meantime Powell had this to say: “The spectacular expertise, wealth of knowledge, and powerful entrepreneurial management of AM Specialty combines powerfully with Pinpoint buyer options. I’m very excited to be main the growth into the UK at this essential stage within the improvement of the enterprise.”
Pinpoint joins fellow subsidiaries AM Specialty Insurance coverage Firm, AM Star Claims, and AM RE Syndicate.
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