Insurance carrier Hadron has revealed its intention to buy The Guarantee Company of North America USA (GCNA) from Atlantic Specialty Insurance Company, part of Intact Financial.
This acquisition is aimed at expanding Hadron’s product range and enhancing its market position in the US.
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Completion of the deal is expected in the third quarter of this year, contingent on regulatory approval and other standard closing conditions.
The transaction will not involve the transfer of net premiums, net loss reserves or employees.
With GCNA’s licences to operate across all 50 US states, Washington, DC and Puerto Rico, as well as a Certificate of Authority from the US Department of Treasury, Hadron aims to enhance admitted insurance solutions delivery to its policyholders and underwriting partners.
Hadron CEO Sam Reeder said: “This acquisition marks a pivotal step for Hadron as we continue to modernise the insurance value chain and deliver superior outcomes for our distribution partners, capacity providers and policyholders. By integrating GCNA’s surety licencing and broad nationwide admitted product capabilities with Hadron’s data-first approach, we will be able to deliver a wider range of solutions to meet the growing demand for diverse and specialised insurance products.”
Supported by substantial capital investment from Altamont Capital Partners and other institutional investors, Hadron began its operations in the US in 2023 and entered the UK in early 2024 with the acquisition of Folgate Insurance Company.
The company offers lead and primary insurance services and capacity to managing general agents or managing general underwriters, addressing the insurance needs of small-to-medium-sized businesses.
