AM Specialty Insurance Company (ASIC), an Excess and Surplus (E&S) insurance firm and an accredited reinsurer, has announced the acquisition of Pinpoint Insurance Solutions, a national programme administrator, managing general agency (MGA), and surplus lines brokerage.
Brad J. Sickinger, President of Pinpoint US, said: “We are thrilled to join AM Specialty Insurance Group. 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.”
Sickinger will continue to lead Pinpoint, bringing his industry experience from previous roles at Allianz AGCS, Willis HRH, Marsh, and AIG.
Shevawn Barder, CEO of AM Holding Company, added: “This acquisition represents a significant step forward for us in enhancing our specialised insurance offerings. Pinpoint’s expertise complements our strategic vision, allowing us to broaden our reach and deepen our capabilities in key niche markets.”
Expanding beyond the US, AM Specialty has also launched Pinpoint UK in London. Darren Powell, with over 30 years of experience from RSA and Allied World, will take on the role of Chief Underwriting Officer starting in September 2024.
Darren Powell, Chief Underwriting Officer of Pinpoint UK, noted: “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.”
Additionally, Shaun Packman, who has over 40 years of experience in Marine and Aviation business lines, will oversee the operations of the London-based entity.
The acquisition of Pinpoint brings several strategic advantages to both organisations. AM Specialty Insurance Group can now offer a more extensive range of products, expanding its market reach and serving a broader client base.
Pinpoint will benefit from AM Specialty’s robust infrastructure and resources, gaining the tools and capital necessary to scale their solutions effectively.
