Hadron, an Arkansas-based carrier, announced its intent to acquire The Guarantee Company of North America USA (GCNA), a Michigan-domiciled insurance company, from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation (TSX: IFC).
This acquisition marks a major milestone in Hadron’s growth, broadening its product offerings and strengthening its position in the U.S. market. Hadron expects the acquisition to close in the third quarter, subject to regulatory approvals and customary closing conditions. No net premiums, net loss reserves, or employees will transfer as a result of the transaction.
With licensing to operate in all 50 U.S. states, Washington, D.C., and Puerto Rico, as well as a Certificate of Authority from the U.S. Department of Treasury as an acceptable surety for Federal bonds, GCNA will significantly expand Hadron’s capabilities and national footprint, enhancing its ability to deliver a broader range of admitted insurance solutions to policyholders and underwriting partners.
Hadron launched in the U.S. in 2023. Hadron provides both lead and primary insurance services as well as capacity to managing general agents (MGAs) or managing general underwriters (MGUs) that offer small-to-medium-sized businesses (SMBs) protection for their growing insurance needs.
Topics Mergers & Acquisitions Michigan
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