US-based insurance coverage dealer One80 Intermediaries has acquired compatriot Waypoint Underwriting Administration for an undisclosed sum.
Waypoint, headquartered in Basking Ridge, New Jersey, is a specialty reinsurance managing normal underwriter (MGU), primarily working within the US.
The corporate offers a variety of reinsurance options together with property, casualty, staff compensation, and accident and well being.
Moreover, Waypoint acts as an MGU for private accident and medical insurance coverage and presents consulting companies in accident insurance coverage.
One80 Intermediaries President Matthew F. Energy mentioned: “Waypoint maintains a particularly broad product providing and best-in-class underwriting groups, which counterpoint One80’s market-leading options. Collectively, we’re effectively poised for accelerated progress and can proceed to offer an unwavering dedication to shopper success.”
Waypoint managing associate Joseph Horan mentioned: “Waypoint and One80 share a standard focus of bringing progressive services and products to {the marketplace}. Becoming a member of the One80 staff won’t solely improve portfolio diversification but in addition guarantee optimum efficiency and resilience inside the dynamic reinsurance market panorama.”
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Waypoint managing associate Jason Denechaud mentioned: “One80’s values are carefully aligned with our give attention to teamwork, transparency, accountability, and respect. This partnership will permit us to help additional progress and supply our capability companions the extent of service they’ve come to anticipate from Waypoint.
In June, One80 launched a new legal responsibility insurance coverage answer tailor-made for chief restructuring officers, designed to mitigate the distinct dangers they face whereas restructuring distressed corporations.
This coverage offers legal responsibility protection as much as $30m and extends to incorporate the restructuring firm as a further insured celebration.
