Insurance services provider, Amynta Group, has announced that it has entered into a definitive agreement to acquire Sutton Special Risk Inc. (Sutton), a managing general underwriter (MGU) of specialty insurance products based in Toronto, Canada.
The acquisition expands on Amynta’s offerings across the accident and health market, and also accelerates the company’s growth plans in the Canadian marketplace.
The transaction however, is subject to customary closing conditions, including regulatory approvals.
Established in 1978, Sutton offers its clients a wide range of accident and health coverages. This includes: personal accident, disability, critical illness, and specialty coverages focused on professional sports and entertainment.
In addition, Sutton had managed premiums of CAN $65 million for the 12 months ended September 30, 2023.
It has also been confirmed, that Greg Sutton, President & CEO of Sutton, will continue to lead the firm following the closure of the transaction.
Robert Giammarco, Chairman and CEO of Amynta Group, commented: “Greg and the Sutton team have built a great company with a long and successful track record of delivering client focused solutions.
“Sutton brings specialty A&H capabilities to Amynta, expanding our underwriting reach with proven leaders in the market. We see significant opportunities to build on Sutton’s strong offering and client centric approach to expand their business. We are excited to welcome Greg and his associates to Amynta.”
Sutton, said: “Sutton has been built on delivering customized solutions and outstanding service to our clients for over 45 years. We are thrilled to partner with Amynta, who shares our vision and ambitions for the business. Joining forces with Amynta marks a pivotal milestone in the success and future of Sutton, setting the stage for our next chapter of growth. We look forward to continuing to provide our customers with the same high-quality service and solutions.”
