Hudson Insurance Group has acquired Motor Transport Underwriters Inc. (MTU), an underwriting, claims and risk management specialist in the long-haul trucking arena with which Hudson does business.
The announcement said MTU will continue to be led by Greg Bonnell and operate out of Indianapolis, Indiana.
MTU was founded in 1995 as a program manager for insurance for trucking fleets on behalf of Travelers Insurance. In 2002, MTU transferred its business to Lincoln General Insurance Co., where it stayed until 2008 when it rolled its book to Hudson.
Chris Gallagher, Hudson’s president, said the deal gives Hudson an opportunity to make its partnership with MTU permanent.
Hudson Insurance Group is the U.S. insurance division of OdysseyRe, a property/casualty reinsurer and specialty insurer. OdysseyRe is a wholly-owned subsidiary of Fairfax Financial Holdings Limited. Hudson underwrites specialty primary and excess insurance on an admitted and non-admitted basis through Hudson Insurance Co., Hudson Specialty Insurance Co. and Hudson Excess Insurance Co.
Gill and Roeser Holdings, Inc. acted as financial advisor to MTU in this transaction.
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