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Alabama-based managing common agent (MGA) South Shore Insurance coverage Underwriters (SSIU) introduced it has acquired the belongings of Linneman Specialty Insurance coverage (LSI) as a part of its plan to develop its operations to the West Coast.

SSIU, which focuses on offering specialty insurance coverage by means of extra and surplus in addition to customary markets to impartial companies from Texas to New Jersey, stated the acquisition will assist broaden its geographical attain.

SSIU stated that it makes use of a completely digital course of that mixes underwriting and proprietary know-how to serve underserved markets. The phrases of the acquisition weren’t disclosed.

Taylor Norton (pictured above), founder and president of SSIU, stated the acquisition aligns with the corporate’s objective of increasing its digital platform into new markets.

“We’re each regionally specialised underwriters with a robust deal with profitability and distinctive service to our brokers,” Norton stated, including that the deal will assist SSIU diversify geographically by increasing into 4 extra states.

LSI, a supplier of companies and merchandise to retail brokers by means of underwriting contracts within the US and London markets, locations a big portion of non-public traces enterprise with underwriters at Lloyd’s beneath binding authorities. Its product choices embody owners’ protection, dwelling hearth, distinction in situations insurance policies, and insurance coverage for positive arts and collectibles.

LSI president Raymond Brown stated the acquisition will enable the corporate to stay inside a privately owned group whereas having access to extra know-how and experience. Brown famous that the deal will improve LSI’s capabilities and supply new options for wildfire-exposed dangers.

Andrew Fowles, chief underwriting officer at SSIU and former president of Canopius US, stated the acquisition will develop LSI’s product choices whereas sustaining a excessive degree of service for each provider companions and policyholders.

Elsewhere within the M&An area, Highstreet Insurance coverage Companions (HSIP) not too long ago introduced its acquisition of HG Ellis Company, based mostly in Camden, New York.

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