Global specialty insurance broker NSM Insurance Group has completed its acquisition of Strategic Underwriters International (SUI).
Based in Doylestown, Pennsylvania, SUI is a managing general agent (MGA) in the casualty facultative reinsurance marketplace. SUI offers facultative casualty reinsurance for several lines of business, including general liability, automobile liability, excess/umbrella liability and workers’ compensation.
Terms of the deal were not disclosed.
Bill Reichert, president of Strategic Underwriters International, said he sees the deal enhancing his firm’s product development, technology systems and AI initiatives.
NSM has built more than $1.8 billion in premium across 25+ specialty insurance programs and brands around the world focused on collector cars; student health and travel; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; commercial and residential contractors; medical stop-loss and managed care; staffing; and workers’ compensation.
Topics Mergers & Acquisitions Underwriting Reinsurance Insurance Wholesale
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