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 collection of structured credit score insurance coverage options beneath its umbrella.
The credit score division will now perform as a full-service Managing Basic Underwriter (MGU) inside Amynta Danger Options.
It is going to concentrate on underwriting and managing credit score insurance coverage merchandise, together with mortgage credit score and different credit score danger options, primarily catering to monetary establishments and mortgage insurers.
The division gives 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 companion 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 yr, the corporate operates by a community of unbiased brokers, brokers, and wholesalers.
C&F chairman and CEO Marc Adee mentioned: “Dan and his group have constructed a robust and worthwhile enterprise. Amynta is the proper proprietor to take the enterprise ahead and permit them to understand the total development 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 Danger Options CEO John Doucette mentioned: “The acquisition of the C&F credit score division offers entry to a brand new specialty class of enterprise with a group that has constructed a robust underwriting monitor document, constructing on our partnership with C&F.
“We’re excited to welcome Dan and his group to Amynta, as we glance to increase the enterprise to new markets and construct capability to help enticing development alternatives.”
Earlier this yr, Amynta Group strengthened its portfolio by the acquisition of the medical cease loss enterprise from Unum Group, in addition to bought Sutton Particular Danger, a Canadian underwriter targeted on area of interest insurance coverage and reinsurance merchandise.
