American property & casualty insurer Amynta Group has acquired the surety operations of Aspen Insurance, the insurance segment of Aspen Insurance Holdings.

The deal value was not disclosed.

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The acquired business will now trade under the name Amynta Surety Solutions.

As part of the transaction, Amynta inked a strategic partnership with property and casualty insurer Crum & Forster to offer underwriting capacity and to assume Aspen’s in-force surety portfolio.

Amynta Surety Solutions will be the exclusive writer of large commercial surety bonds for Crum & Forster, which is a wholly owned subsidiary of Fairfax Financial.

Founded in 2011, Amynta Surety Solutions offers underwriting expertise in the commercial surety market with a focus on the Fortune 1000 market, large private account business and specialty market niches.

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Amynta Surety Solutions will be headquartered in Glastonbury, CT, and will continue to be headed by Michael Toppi as the CEO.

Amynta Group chairman and CEO Robert Giammarco said: “We are very excited to welcome Michael Toppi and the entire surety team to Amynta, forming the foundation of our surety practice. The business brings a well-established surety team with a proven underwriting track record and culture of delivering creative solutions for clients.

“We are thrilled to be partnering with Crum & Forster to support the growth of Amynta Surety Solutions. Crum & Forster has a strong surety practice and offers excellent security to our clients.”

Commenting on the development, Toppi said: “The team and I are excited about the opportunities ahead with Amytna.

“This transaction provides us with a great opportunity to continue delivering innovative solutions and the highest quality of service to our broker partners and clients with the support of Crum & Forster, our “A” rated carrier partner.”