The group additionally established a UK base for its acquired MGA
Mergers and Acquisitions
Terry Gancuanco
Texas-based AM Specialty Insurance coverage Group, by way of its holding firm, AM Holding Firm, has acquired Pinpoint Insurance coverage Options, a nationwide program administrator, common agent and surplus strains brokerage, for an undisclosed quantity.
The acquisition coincides with the launch of Pinpoint UK in London and marks AM Specialty’s growth into the surplus and surplus insurance coverage sector in each the US and the UK.
Brad J. Sickinger, who based MGA in 2021, will proceed to steer Pinpoint US as president.
In the meantime, the UK underwriting platform might be led by Darren Powell as chief underwriting officer of Pinpoint UK from September 2024. Moreover, Sean Packman will oversee the operations of the London-based entity.
“This acquisition marks a serious step ahead in strengthening our specialty insurance coverage providers,” AM Holdings’ CEO mentioned. Shevan Bader (pictured) declared: “Pinpoint’s experience enhances our strategic imaginative and prescient and can allow us to develop our attain and deepen our capabilities in key area of interest markets.”
Below the AM Specialty umbrella, Pinpoint could have entry to the group’s sturdy infrastructure and assets, important to scale its surplus line specialist options.
“I’m excited to hitch AM Specialty Insurance coverage Group,” commented Sickinger.This partnership marks a milestone in our journey.“We’re combining our modern strategy with a revered participant within the specialty insurance coverage market. Collectively, our firms will be capable to ship much more innovation and worth to our purchasers.”
Powell mentioned: “AM Specialty’s main know-how, knowledge richness and robust entrepreneurial spirit are a robust mixture with Pinpoint’s buyer options and I am thrilled to be main the corporate’s growth into the UK at this vital stage within the enterprise’s improvement.”
Pinpoint joins subsidiaries together with AM Specialty Insurance coverage Firm, AM Star Claims and AM RE Syndicate.
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