Financial details of the deal were not disclosed. Credit: Pro.Sto/Shutterstock.

US-based insurance broker One80 Intermediaries has acquired compatriot Waypoint Underwriting Management for an undisclosed sum. 

Waypoint, headquartered in Basking Ridge, New Jersey, is a specialty reinsurance managing general underwriter (MGU), mainly operating in the US.  

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The company provides a range of reinsurance solutions including property, casualty, workers compensation, and accident and health.  

Additionally, Waypoint acts as an MGU for personal accident and medical insurance and offers consulting services in accident insurance. 

One80 Intermediaries President Matthew F. Power said:  “Waypoint maintains an extremely broad product offering and best-in-class underwriting teams, which complement One80’s market-leading solutions. Together, we are well poised for accelerated growth and will continue to provide an unwavering commitment to client success.” 

Waypoint managing partner Joseph Horan said: “Waypoint and One80 share a common focus of bringing innovative products and services to the marketplace. Joining the One80 team will not only enhance portfolio diversification but also ensure optimal performance and resilience within the dynamic reinsurance market landscape.” 

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Waypoint managing partner Jason Denechaud said: “One80’s values are closely aligned with our focus on teamwork, transparency, accountability, and respect. This partnership will allow us to support further growth and provide our capacity partners the level of service they have come to expect from Waypoint. 

In June, One80 introduced a new liability insurance solution tailored for chief restructuring officers, designed to mitigate the distinct risks they face while restructuring distressed companies.  

This policy provides liability coverage up to $30m and extends to include the restructuring company as an additional insured party.