Ambridge, an MGU which gives a broad number of transactional, specialty casualty, cyber, skilled legal responsibility and reinsurance coverages, locations over $600 million of GWP on behalf of Brit and plenty of extremely rated international insurers. It was based 22 years in the past by govt chairman Jess Pryor and CEO Jeff Cowhey, who will proceed to steer the corporate.
Executives share ideas on the deal
Commenting on the deal, Robert Giammarco, chairman and CEO of Amynta, stated the group was excited to welcome Pryor, Cowhey and the Ambridge staff. He famous Ambridge’s profitable long-term monitor document and pinpointed the enterprise as a “high-quality firm with an excellent administration staff”.
“Ambridge considerably expands our MGA enterprise, now writing over $2 billion in premiums, and considerably will increase our enterprise within the E&S market,” he stated. “Ambridge will function on a decentralized foundation and we look ahead to supporting Jess, Jeff and the Ambridge staff in rising their enterprise over the long run.”
Pryor additionally commented on the “thrilling information” for Ambridge, its individuals and its companions. As a part of Brit, the enterprise developed into a number one specialist MGU, he stated, and Amynta was the proper accomplice to help its continued development and evolution.
“Their give attention to working with entrepreneurial MGUs, underpinned by deep expertise and robust market relationships, makes them a pure match for Ambridge and our prospects,” he continued. “Their platform helps our underwriting and repair led mannequin and can allow us to proceed delivering modern options to our prospects. I wish to lengthen our because of Brit, who’ve been unbelievable homeowners, and I look ahead to constructing on our partnership.”
Discussing the deal, Martin Thompson, CEO of Brit, highlighted that Pryor and Cowhey had constructed an awesome enterprise in Ambridge and – with the mixture with BGSU in 2021 – had established a “extremely regarded and fast-growing worldwide MGA”.
“Whereas we’re pleased with what we’ve got helped to create,” he stated, “we imagine now could be the suitable time for Brit to understand the worth of its funding as we focus our strategic priorities on our core underwriting capabilities throughout our broad distribution networks and our funding in constructing out market-leading digital capabilities to help this.
“In Amynta we have been happy to seek out the proper homeowners to take Ambridge ahead, specifically as they’re constructing a high-quality MGA enterprise. Importantly, Ambridge and Amynta stay key companions for Brit, and we look ahead to a protracted and deep relationship with them as an impartial MGA.”
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