Amynta Group reveals its acquisition of Ambridge Group from Brit

Ambridge, an MGU which offers a broad variety of transactional, specialty casualty, cyber, professional liability and reinsurance coverages, places over $600 million of GWP on behalf of Brit and a number of highly rated global insurers. It was founded 22 years ago by executive chairman Jess Pryor and CEO Jeff Cowhey, who will continue to lead the company.

Executives share thoughts on the deal

Commenting on the deal, Robert Giammarco, chairman and CEO of Amynta, said the group was excited to welcome Pryor, Cowhey and the Ambridge team. He noted Ambridge’s successful long-term track record and pinpointed the business as a “high-quality company with an outstanding management team”.

“Ambridge significantly expands our MGA business, now writing over $2 billion in premiums, and significantly increases our business in the E&S market,” he said. “Ambridge will operate on a decentralized basis and we look forward to supporting Jess, Jeff and the Ambridge team in growing their business over the long term.”

Pryor also commented on the “exciting news” for Ambridge, its people and its partners. As part of Brit, the business developed into a leading specialist MGU, he said, and Amynta was the right partner to support its continued growth and evolution.

“Their focus on working with entrepreneurial MGUs, underpinned by deep experience and strong market relationships, makes them a natural fit for Ambridge and our customers,” he continued. “Their platform supports our underwriting and service led model and will enable us to continue delivering innovative solutions to our customers. I would like to extend our thanks to Brit, who have been fantastic owners, and I look forward to building on our partnership.”