NSM completes acquisition of reinsurance MGA

Specialty insurance coverage supplier NSM Insurance coverage Group has accomplished the acquisition of Strategic Underwriters Worldwide (SUI).

SUI, primarily based in Doylestown, PA, is a managing normal agent (MGA) within the casualty facultative reinsurance market.

SUI focuses on facultative casualty reinsurance for numerous traces of enterprise, together with normal legal responsibility, vehicle legal responsibility, extra/umbrella legal responsibility, and employees’ compensation.

“We’re thrilled to announce our newest strategic acquisition within the casualty facultative reinsurance area with SUI,” NSM Insurance coverage Group president Invoice McKernan (pictured above) stated. “SUI is a dynamic firm with distinctive underwriting and a confirmed monitor document of constantly producing excellent profitability for his or her key reinsurance companions. SUI is main the best way in facultative reinsurance, which is usually an underserved class of the business.”

Invoice Reichert, president of Strategic Underwriters Worldwide, additionally welcomed the acquisition as a significant spotlight for the corporate.

“At present is an thrilling milestone as we be a part of the NSM household of specialty insurance coverage manufacturers. Over the previous 10+ years, now we have established SUI as a famend chief within the reinsurance enterprise primarily based on our sturdy relationships and powerful underwriting outcomes. NSM has the cutting-edge assets and capability to assist our enterprise develop by enhancing our providing to the insurance coverage market, together with a concentrate on key product improvement, expertise methods, and AI initiatives,” Reichert stated.

This acquisition enhances NSM’s portfolio of specialty insurance coverage applications and types for the business property and casualty (P&C) business and client insurance coverage, supported by assets in IT, information and analytics, operations, advertising and marketing, HR, and finance.

NSM operates with greater than $1.8 billion in premium throughout 25+ area of interest insurance coverage applications.

In different latest developments, the specialty insurance coverage supplier introduced a landmark deal because it signed a definitive settlement to purchase InsurEVO, a UK-based agency specializing in private traces journey insurance coverage, working two manufacturers – AllClear Journey Insurance coverage and InsureandGo – and serving over three million clients.

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