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 area, bringing a set of structured credit score insurance coverage options underneath its umbrella.
The credit score division will now perform as a full-service Managing Basic Underwriter (MGU) inside Amynta Danger Options.
It should give attention to underwriting and managing credit score insurance coverage merchandise, together with mortgage credit score and various credit score danger options, primarily catering to monetary establishments and mortgage insurers.
The division presents entry to the credit score insurance coverage marketplace for numerous 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 insurance.
With $5.3bn in gross written premium final 12 months, the corporate operates via a community of impartial brokers, brokers, and wholesalers.
C&F chairman and CEO Marc Adee mentioned: “Dan and his crew 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 complete managed premium throughout North America, Europe, and Australia, Amynta Group gives insurance coverage and guarantee safety options to carriers, wholesalers, retail companies, auto sellers, OEMs, and client retailers.
Amynta Danger Options CEO John Doucette mentioned: “The acquisition of the C&F credit score division gives entry to a brand new specialty class of enterprise with a crew that has constructed a robust underwriting monitor file, constructing on our partnership with C&F.
“We’re excited to welcome Dan and his crew to Amynta, as we glance to develop the enterprise to new markets and construct capability to assist enticing progress alternatives.”
Earlier this 12 months, Amynta Group strengthened its portfolio via the acquisition of the medical cease loss enterprise from Unum Group, in addition to bought Sutton Particular Danger, a Canadian underwriter centered on area of interest insurance coverage and reinsurance merchandise.
