#USA #New York #Amynta Group #Crum & Forster #Credit Insurance

Amynta Group Expands Its Reach in Credit Insurance through Acquisition

In a significant move for the insurance industry, Amynta Group has announced the acquisition of the Credit Division of Crum & Forster, a key subsidiary of Fairfax Financial Holdings Limited. This strategic acquisition enables Amynta, a prominent provider of insurance services, to broaden its footprint in the credit insurance market and enhance its offerings.

Crum & Forster's Credit Division is renowned for providing a wide range of structured credit insurance solutions, serving primarily financial institutions and mortgage insurers. Under the new structure, the division will operate as a full-service Managing General Underwriter (MGU) under the banner of Amynta Risk Solutions, a testament to Amynta's commitment to delivering innovative insurance solutions.

Significance of the Acquisition

CEO of Amynta Risk Solutions, John Doucette, expressed enthusiasm about the acquisition, noting, "The acquisition of the CF Credit Division provides entry to a new specialty class of business with a team that has built a strong underwriting track record, building on our partnership with CF." Doucette further articulated the potential for growth in new markets and emphasized the importance of expanding capacity to support increasing demand in the insurance sector. This acquisition aligns with Amynta's broader vision of delivering superior underwriting capabilities and innovative solutions to its partners and clients.

The transition phase will see Daniel L. Sussman, who previously led the Credit Division, continuing to head the business unit under Amynta, ensuring a seamless integration of operations and maintaining the established culture of excellence and service. This continuity is crucial as it instills confidence among existing clients and partners that the restructuring will only improve service delivery.

A Robust Partnership for Future Growth

Marc Adee, Chairman and CEO of Crum & Forster, has lauded the acquisition, stating, "Dan and his team have built a strong and profitable business. Amynta is the perfect owner to take the business forward and allow them to realize the full growth ambitions of the business." The collaboration between Amynta and Crum & Forster will not only strengthen the existing relationship but also foster the development of new initiatives that leverage both companies' strengths in the insurance sector.

About the Companies

Amynta Group is a key player in the insurance services industry, boasting more than $3.5 billion in total managed premium across North America, Europe, and Australia. Known for its customer-centric approach and its focus on underwriting, Amynta serves a diverse clientele that includes leading carriers, wholesalers, auto dealers, and consumer retailers. For more information about Amynta and its innovative solutions, visit www.amyntagroup.com.

Crum & Forster has been a leading name in the insurance landscape since its founding in 1822. The company specializes in property, casualty, and accident health insurance and operates through a network of independent agents and brokers. With gross written premiums amounting to $5.3 billion in 2023, Crum & Forster stands out as an insurance powerhouse, rated "A" Excellent by AM Best. For more details, check out www.cfins.com.

Conclusion

The acquisition of Crum & Forster's Credit Division is poised to reshape the landscape of credit insurance, with Amynta Group at the forefront of innovation and growth in this sector. By harnessing the expertise and resources of both companies, this strategic move not only promises enhanced service offerings but also catalyzes future opportunities within the insurance market.

Stay tuned for more developments as Amynta Group integrates this new division and maps out its growth trajectory in the coming years.