Amynta Group reveals its acquisition of Ambridge Group from Brit

Ambridge, an MGU which gives a broad number of transactional, specialty casualty, cyber, skilled legal responsibility and reinsurance coverages, locations over $600 million of GWP on behalf of Brit and a variety of extremely rated world insurers. It was based 22 years in the past by govt chairman Jess Pryor and CEO Jeff Cowhey, who will proceed to steer the corporate.

Executives share ideas on the deal

Commenting on the deal, Robert Giammarco, chairman and CEO of Amynta, stated the group was excited to welcome Pryor, Cowhey and the Ambridge staff. He famous Ambridge’s profitable long-term monitor report and pinpointed the enterprise as a “high-quality firm with an excellent administration staff”.  

“Ambridge considerably expands our MGA enterprise, now writing over $2 billion in premiums, and considerably will increase our enterprise within the E&S market,” he stated. “Ambridge will function on a decentralized foundation and we stay up for supporting Jess, Jeff and the Ambridge staff in rising their enterprise over the long run.”

Pryor additionally commented on the “thrilling information” for Ambridge, its individuals and its companions. As a part of Brit, the enterprise developed into a number one specialist MGU, he stated, and Amynta was the fitting accomplice to assist its continued progress and evolution.

“Their give attention to working with entrepreneurial MGUs, underpinned by deep expertise and powerful market relationships, makes them a pure match for Ambridge and our clients,” he continued. “Their platform helps our underwriting and repair led mannequin and can allow us to proceed delivering modern options to our clients. I wish to lengthen our due to Brit, who’ve been unbelievable house owners, and I stay up for constructing on our partnership.” 

Discussing the deal, Martin Thompson, CEO of Brit, highlighted that Pryor and Cowhey had constructed a fantastic enterprise in Ambridge and – with the mix with BGSU in 2021 – had established a “extremely regarded and fast-growing worldwide MGA”.

“While we’re pleased with what now we have helped to create,” he stated, “we imagine now’s the suitable time for Brit to grasp the worth of its funding as we focus our strategic priorities on our core underwriting capabilities throughout our broad distribution networks and our funding in constructing out market-leading digital capabilities to assist this.

“In Amynta we have been happy to search out the proper house owners to take Ambridge ahead, particularly as they’re constructing a high-quality MGA enterprise. Importantly, Ambridge and Amynta stay key companions for Brit, and we stay up for an extended and deep relationship with them as an unbiased MGA.”

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