US insurance coverage firm Amynta Group has finalised its acquisition of Sutton Particular Danger, a Canadian managing basic underwriter specialising in area of interest insurance coverage and reinsurance merchandise.
Monetary particulars of the deal stay undisclosed.
Established in 1978, Sutton Particular Danger supplies a complete suite of A&H insurance coverage merchandise.
Its choices embody private accident, incapacity, vital sickness, and specialised coverages catering to the skilled sports activities and leisure sectors.
For the 12 months ended 31 December 2023, Sutton managed premiums amounting to C$67m.
The acquisition follows the definitive settlement signed in December 2023.
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As per the phrases of the settlement, Greg Sutton, who has served as Sutton’s president and CEO for greater than a decade, will proceed in that function.
Amynta Group mentioned the acquisition of Sutton will assist expedite its development plans in Canada and develop its merchandise within the A&H sectors.
Amynta Group chairman and CEO Robert Giammarco earlier mentioned: “Sutton brings speciality A&H capabilities to Amynta, increasing our underwriting attain with confirmed leaders available in the market.
“We see vital alternatives to construct on Sutton’s sturdy providing and client-centric method to develop their enterprise. We’re excited to welcome Greg and his associates to Amynta.”
Final yr, Fairfax Monetary Holdings’ subsidiary Amynta Group, Brit (Brit) acquired insurance coverage providers supplier Ambridge Group for $400m.
The deal consists of Ambridge’s US and worldwide divisions in Germany in addition to the UK.
