AM Specialty snaps up Pinpoint Insurance Solutions
AM Specialty snaps up Pinpoint Insurance Solutions | Insurance Business America
Insurance News
AM Specialty snaps up Pinpoint Insurance Solutions
Group also establishes UK counterpart of acquired MGA
Insurance News
By
Terry Gangcuangco
Texas-based AM Specialty Insurance Group, through its holding company AM Holding Company, has acquired national program administrator, managing general agency, and surplus lines brokerage Pinpoint Insurance Solutions for an undisclosed sum.
The swoop coincides with the formation of Pinpoint UK in London, marking AM Specialty’s expansion in the excess and surplus insurance sector in both the US and Britain.
Brad J. Sickinger, who established the MGA in 2021, will remain at the helm in his capacity as president of Pinpoint US.
The British underwriting platform, meanwhile, is set to be led by Darren Powell as Pinpoint UK chief underwriting officer starting September 2024. Additionally, Shaun Packman will oversee the London-based entity’s operations.
“This acquisition represents a significant step forward for us in enhancing our specialized insurance offerings,” AM Holding Company chief executive Shevawn Barder (pictured) declared. “Pinpoint’s expertise complements our strategic vision, allowing us to broaden our reach and deepen our capabilities in key niche markets.”
Under the AM Specialty umbrella, Pinpoint will have access to the group’s robust infrastructure and resources, essential for scaling the surplus lines specialist’s solutions.
“We are thrilled to join AM Specialty Insurance Group,” commented Sickinger. “This partnership marks a milestone in our journey, aligning our innovative approaches with a company that has a strong reputation in specialty insurance markets. Together, we will drive greater innovation and value for our clients.”
Meanwhile Powell had this to say: “The impressive technology, wealth of data, and strong entrepreneurial leadership of AM Specialty combines powerfully with Pinpoint customer solutions. I am very excited to be leading the expansion into the UK at this important stage in the development of the business.”
Pinpoint joins fellow subsidiaries AM Specialty Insurance Company, AM Star Claims, and AM RE Syndicate.
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