US-based Amynta Group has purchased Scion Underwriting Services from Brit for an undisclosed sum.
Headquartered in Texas, Dallas, the acquired firm conducts its operations as an MGA, which offers speciality casualty insurance to excess and surplus (E&S) lines market.
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Scion has written over $65m in premiums with a focus on the transportation market, and primary general liability.
As per the agreement, Brit, a speciality insurer and reinsurer, will continue to provide underwriting capacity for the firm.
Scion president Scott Brock and senior vice president Michael Hattaway will continue to lead Scion.
Amynta chairman and CEO Robert Giammarco said: “We are very pleased to welcome Scott, Michael and the Scion team to Amynta. Scion has built an excellent business with a well-established team focused on delivering innovative, client-focused solutions to the market. We look forward to partnering with Brit to support the continued growth of the business.”
Brock added: “We are excited to be joining Amynta which will accelerate our expansion plans and continue delivering creative solutions and superior service to our broker partners and clients with the continued support of Brit.”
Brit CEO Matthew Wilson said: “Having aligned our US operations under the Ambridge brand, Amynta represents a better strategic fit for Scion, enabling the business to continue to expand and develop its offering.”
Amynta offers its services to carriers, wholesalers, retail agencies, auto dealers, OEMs, and consumer product retailers.
In July 2020, the insurer acquired the surety operations of Aspen Insurance, the insurance segment of Aspen Insurance Holdings.
