Specialty insurance broker One80 Intermediaries has acquired Waypoint Underwriting Management, LLC., a specialty reinsurance Managing General Underwriter (MGU) operating primarily in the United States. Terms of the deal were not disclosed.
Jason Denechaud, Managing Partner, Waypoint, commented: “One80’s values are closely aligned with our focus on teamwork, transparency, accountability, and respect. This partnership will allow us to support further growth and provide our capacity partners the level of service they have come to expect from Waypoint.”
Based in Basking Ridge, New Jersey, Waypoint offers Property, Casualty, Workers’ Compensation, and Accident & Health reinsurance solutions to insurers.
Additionally, the company serves as a principal MGU for Personal Accident and Medical insurance, providing consulting services within the Accident insurance industry, assisting with filing, forms, and actuarial memorandums.
Matthew F. Power, President, One80 Intermediaries, said: “Waypoint maintains an extremely broad product offering and best in class underwriting teams which complement One80’s market leading solutions.
“Together, we are well poised for further diversification and profitable growth, while continuing to provide an unwavering commitment to client service.”
Joseph Horan, Managing Partner, Waypoint, stated: “Waypoint and One80 share a common focus of bringing innovative products and services to the marketplace.
“Joining the One80 team will not only provide an enhanced platform to support our business, but also expand our ability to provide solutions to our reinsurance intermediaries and cedents.”
In its sale to One80, Waypoint was exclusively advised by Dowling Hales.
