Gryphon Holdings, an insurance and financial services solutions innovator, has entered into a definitive agreement to acquire PrimeOne Insurance Company, a privately held specialty commercial lines carrier, in an undisclosed transaction.
PrimeOne is a specialty property and casualty insurer focused on partnering with program administrators and managing general agents in select niche markets.
The company’s operations are built on a foundation of robust enterprise risk management and governance, conservative capital management, strong reinsurance relationships, and disciplined underwriting practices.
For Gryphon, this transaction represents a significant step in furthering its mission to build a comprehensive platform serving investors and clients across the insurance and reinsurance ecosystem.
Integrating PrimeOne’s underwriting expertise, established client relationships, and robust reinsurance partnerships will be highly complementary to Gryphon’s goal of providing a fully integrated suite of insurance products and services.
Operating as a core underwriting platform within the Gryphon umbrella, PrimeOne will enable clients and partners to access expanded product offerings, benefit from enhanced operational capabilities, and gain greater access to global risk and capital markets.
“We are excited to welcome PrimeOne into the Gryphon enterprise,” said Erin Brennan Bagley, CEO of Gryphon. “This acquisition accelerates our vision of creating a unified platform where investors and insurance market participants can connect, innovate, and thrive. PrimeOne’s reputation and capabilities will be key assets as we continue to build out our specialty insurance, asset management, and bespoke reinsurance capacity solutions.”
“Partnering with Gryphon provides PrimeOne with long-term strategic capital and a broader platform to expand our underwriting capabilities while maintaining the discipline and client focus that define our business,” said David Thorson, President of PrimeOne. “We see this transaction as an opportunity to accelerate growth, deepen reinsurance relationships, and create new opportunities for our clients and partners.”
Gryphon, financed by Phoenix Merchant Partners, is a next-generation platform streamlining access to specialty insurance capacity and investment.
With PrimeOne, Gryphon’s integrated platform will include MGA incubation, third-party administrator (TPA) services, asset management, and insurance and reinsurance capacity.
This acquisition follows the recently announced planned acquisition of Concert Group® by Freedom Underwriters LLC, which is backed by Gryphon and its original investors.
