Amynta Group said it has completed its $400 million acquisition of Ambridge Group from Brit.
A multi-year strategic partnership had previously been announced in which Brit, a subsidiary of Fairfax Financial Holdings Ltd., will be a significant capacity partner to Ambridge.
The transaction includes Ambridge in the U.S. and international units in the United Kingdom and Germany.
Offering a broad range of transactional, specialty casualty, cyber, professional liability and reinsurance coverages, Ambridge places over $600 million of gross premium written on behalf of Brit and a number of highly rated global insurers. Ambridge was founded 22 years ago by Jess Pryor, executive chairman of Ambridge, and Jeff Cowhey, chief executive officer of Ambridge, who will continue to lead the company.
Related: Amynta Group to Acquire Brit’s MGU Ambridge Group for $400M, Forms Capacity Deal
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