Brit Ltd. said it will merge its U.S. service company platform, Brit Global Specialty USA, and its managing general agency Ambridge.
The combined entity, which will operate under the Ambridge brand as Ambridge Partners LLC, will create an MGA managing in excess of $450 million in premium in the U.S. and more than $110 million in premium written by Ambridge’s international affiliates.
The compnay said that all current U.S. employees across BGSU will be part of the transition.
Brit first made a strategic investment in Ambridge in 2015 and acquired full ownership in 2019.
The combination will see BGSU’s products distributed through Ambridge and sit alongside Ambridge’s existing products in transactional insurance, complex management liability and intellectual property.
The company said the merger will “enable the combined underwriting teams increased flexibility and greater opportunities to grow premium while broadening the products offered under the well-known Ambridge brand.”
Jess Pryor will lead Ambridge as executive chairman. He will also continue in his role of executive chairman of Scion, which will remain a stand-alone MGA business headquartered in Dallas, Texas and led by Scion President Scott Brock.
The enlarged Ambridge business will trade through three segments, Ambridge Transactional, Ambridge Specialty Casualty and Ambridge Re.
Ambridge Transactional will consist of directors & officers, intellectual property liability, representations and warranties, special situation contingency, and tax.
Ambridge Specialty Casualty will consist of cyber, excess casualty, general liability, professional lines, construction professional, and public entity non-profit.
Ambridge Re will consist of casualty reinsurance, political violence, and property (FAC).
BGSU’s Programs team will write directly into Brit Syndicate 2987.
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