Fusion Specialty expands HDI partnership
Fusion Specialty expands HDI partnership | Insurance Business America
Insurance News
Fusion Specialty expands HDI partnership
Move looks to enhance market footprint
Insurance News
By
Jonalyn Cueto
Managing general agent Fusion Specialty has announced a significant expansion of its partnership with HDI Global Specialty SE into the Americas. This move, aimed at enhancing their market footprint, includes a new agreement to increase insurance capacity across the region.
According to Fusion Specialty, the expanded partnership will encompass representations and warranty, tax, and contingent insurance business lines. This strategic initiative not only strengthens Fusion’s mergers and acquisitions (M&A) insurance capabilities but also aligns with its overarching growth strategy, as noted in a company statement.
David Rogers, Fusion’s executive chairman, highlighted the evolution of their collaboration with HDI: “They have been our partner since the inception of our business in Australia, expanded to the United Kingdom and European Union last year, and now to the United States.”
Rogers also emphasized that integrating HDI into Fusion’s Americas panel of insurers completes their global partnership.
Jim Clark, CEO of HDI Global US, highlighted the significance of this partnership in HDI’s regional growth strategy, calling it a “milestone” that will enhance the company’s service offerings and diversify their risk exposure.
Clark stated, “This ensures reinforcing our reputation as a key player in transactional risk insurance within the SME and LMM sectors.”
HDI Global SE recently reported a robust performance in the first quarter, with net income rising to €104 million ($112.7 million) from €69 million. The company attributed this growth to improved pricing and expanded business activities. HDI’s strong financial position is supported by its underwriting entities, which earned AM Best’s financial strength ratings of A+ (Superior), A- (Excellent), and B++ (Good).
Fusion Specialty, established in 2018, specializes in providing M&A and financial lines coverage tailored for small and middle-sized enterprises.
The press release noted the expansion of Fusion Specialty’s partnership with HDI Global Specialty SE marks a significant step forward in the company’s global growth strategy.
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