NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace.
SUI offers facultative casualty reinsurance for several lines of business, including General Liability, Automobile Liability, Excess/Umbrella Liability and Workers’ Compensation.
NSM stated that this acquisition complements the company’s portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance, backed by the its “state-of-the-art” resources, including IT, data and analytics, operations, marketing, HR and finance.
Bill McKernan, President, NSM Insurance Group, commented on the acquisition, “We are thrilled to announce our latest strategic acquisition in the casualty facultative reinsurance space with SUI.
“SUI is a dynamic company with exceptional underwriting and a proven track record of consistently producing outstanding profitability for their key reinsurance partners. SUI is leading the way in facultative reinsurance, which is often an underserved category of the industry.”
Over the last 34 years, NSM has established itself in the industry, with its successful and sustainable insurance programs, consistently outperforming competitors and driving industry-leading growth and profitability.
Bill Reichert, President, Strategic Underwriters International, concluded, “Today is an exciting milestone as we join the NSM family of specialty insurance brands. Over the past 10+ years, we have established SUI as a renowned leader in the reinsurance business based on our robust relationships and strong underwriting results.
“NSM has the cutting-edge resources and capacity to help our business grow by enhancing our offering to the insurance marketplace, including a focus on key product development, technology systems and AI initiatives.”
