Insurer Crum & Forster, a subsidiary of Fairfax Financial Holdings Limited, has sold its C&F Credit Division to Amynta Group.
The C&F Credit Division underwrites and manages credit insurance products, including mortgage credit and alternative credit risk solutions, primarily for financial institutions and mortgage insurers. The business provides turnkey access to the credit insurance market to insurance and reinsurance partners.
The acquisition expands Amynta’s presence in the credit insurance sector. The acquired business will operate as a full-service managing general underwriter (MGU) under Amynta Risk Solutions and the continued leadership of Daniel L. Sussman. C&F will remain a partner for the business.
Amynta, which is headquartered in New York, is an insurance services company with more than $3.5 billion in total managed premium across North America, Europe, and Australia. Amynta serves carriers, wholesalers, retail agencies, auto dealers, original equipment manufacturers, and consumer retailers with insurance and warranty protection products. Amynta operates through three segments: managing general agencies; warranty, including automotive, consumer and specialty equipment; and specialty risk services.
Founded in 1822, New Jersey-based C&F is a national property, casualty, and accident ad health insurer, providing specialty insurance products through its admitted and surplus lines insurance companies. It conducts business through independent agents, brokers and wholesalers. C&F had $5.3 billion in gross written premium in 2023.
Topics Mergers & Acquisitions
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