US insurance coverage firm Amynta Group has signed a definitive settlement to amass Sutton Particular Threat (Sutton) for an undisclosed sum.
Based mostly in Toronto, Canada, Sutton is a managing basic underwriter (MGU) centered on specialty insurance coverage options.
Based in 1978, the MGU supplies an array of A&H coverages to its prospects, akin to important sickness, incapacity and private accident insurance coverage.
It additionally gives specialty plans for skilled sports activities and leisure.
The acquisition of Sutton is anticipated to speed up Amynta’s progress plans within the Canadian market and broaden its merchandise within the A&H sectors.
For the 12 months that concluded on 30 September 2023, Sutton managed C$65m ($47.7m) in premiums.
Entry probably the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Achieve aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e-mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nonetheless, we wish you to take advantage of
useful
determination for your small business, so we provide a free pattern which you could obtain by
submitting the under type
By GlobalData
Beneath 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 position.
Amynta Group chairman and CEO Robert Giammarco 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 strategy to broaden their enterprise. We’re excited to welcome Greg and his associates to Amynta.”
Sutton president and CEO Greg Sutton mentioned: “Sutton has been constructed on delivering customised options and excellent service to our purchasers for over 45 years.
“Becoming a member of forces with Amynta marks a pivotal milestone within the success and way forward for Sutton, setting the stage for our subsequent chapter of progress. We sit up for persevering with to supply our prospects with the identical high-quality service and options.”
The deal is topic to customary closing circumstances, together with regulatory approvals.
In Could this 12 months, Amynta acquired insurance coverage firm Ambridge Group.
Valued at $400m, the deal included Ambridge’s US and worldwide operations within the UK and Germany.
