US-based insurance coverage providers 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 beneath its umbrella.
The credit score division will now perform as a full-service Managing Normal Underwriter (MGU) inside Amynta Threat Options.
It’s going to deal with underwriting and managing credit score insurance coverage merchandise, together with mortgage credit score and various credit score threat options, primarily catering to monetary establishments and mortgage insurers.
The division presents 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 associate 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 yr, the corporate operates by means of a community of unbiased brokers, brokers, and wholesalers.
C&F chairman and CEO Marc Adee stated: “Dan and his workforce have constructed a powerful and worthwhile enterprise. Amynta is the right proprietor to take the enterprise ahead and permit them to understand the complete development ambitions of the enterprise.”
With over $3.5bn in whole 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 Threat Options CEO John Doucette stated: “The acquisition of the C&F credit score division gives entry to a brand new specialty class of enterprise with a workforce that has constructed a powerful underwriting monitor document, constructing on our partnership with C&F.
“We’re excited to welcome Dan and his workforce to Amynta, as we glance to develop the enterprise to new markets and construct capability to assist engaging development alternatives.”
Earlier this yr, Amynta Group strengthened its portfolio by means of the acquisition of the medical cease loss enterprise from Unum Group, in addition to bought Sutton Particular Threat, a Canadian underwriter targeted on area of interest insurance coverage and reinsurance merchandise.
