US-based insurance coverage companies supplier Amynta Group has acquired the credit score division of Crum & Forster (C&F), a subsidiary of Fairfax Monetary Holdings.
This transfer bolsters Amynta’s attain within the credit score insurance coverage house, bringing a collection of structured credit score insurance coverage options underneath its umbrella.
The credit score division will now operate as a full-service Managing Normal Underwriter (MGU) inside Amynta Threat Options.
It’s going to concentrate on underwriting and managing credit score insurance coverage merchandise, together with mortgage credit score and different credit score threat options, primarily catering to monetary establishments and mortgage insurers.
The division gives entry to the credit score insurance coverage marketplace for varied insurance coverage and reinsurance companions.
Regardless of the acquisition, C&F will proceed as a accomplice for the acquired enterprise, with Daniel Sussman persevering with on the helm.
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C&F, a nationwide insurer established in 1822, specialises in property, casualty, and accident & medical health insurance.
With $5.3bn in gross written premium final 12 months, the corporate operates by a community of unbiased brokers, brokers, and wholesalers.
C&F chairman and CEO Marc Adee stated: “Dan and his workforce have constructed a robust and worthwhile enterprise. Amynta is the proper proprietor to take the enterprise ahead and permit them to grasp the total progress ambitions of the enterprise.”
With over $3.5bn in whole managed premium throughout North America, Europe, and Australia, Amynta Group offers insurance coverage and guarantee safety options to carriers, wholesalers, retail businesses, auto sellers, OEMs, and shopper retailers.
Amynta Threat Options CEO John Doucette stated: “The acquisition of the C&F credit score division offers entry to a brand new specialty class of enterprise with a workforce that has constructed a robust underwriting monitor file, constructing on our partnership with C&F.
“We’re excited to welcome Dan and his workforce to Amynta, as we glance to increase the enterprise to new markets and construct capability to assist engaging progress alternatives.”
Earlier this 12 months, Amynta Group strengthened its portfolio by the acquisition of the medical cease loss enterprise from Unum Group, in addition to bought Sutton Particular Threat, a Canadian underwriter centered on area of interest insurance coverage and reinsurance merchandise.
