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HGS, a subsidiary of HDI International (HDI), has acquired Griffin Highline Capital’s shares in Falcon Threat Holdings.
This transfer grants HDI a majority stake within the managing common company (MGA) Falcon, which is anticipated to be a progress driver for HGS within the US monetary traces sector.
Falcon was created in June 2021 by means of a partnership between HGS, Craig Landi and investor Griffin Highline to determine HGS’ presence within the US monetary traces market.
Monetary particulars relating to the transaction weren’t revealed.
Falcon operates solely for HGS and is already actively underwriting insurance policies in administrators and officers legal responsibility, skilled indemnity and cyber insurance coverage.
The MGA specialises in each admitted and non-admitted firm insurers, offering full-service underwriting and claims administration.
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In a associated improvement, HDI International Insurance coverage Firm has accomplished the acquisition of Indiana Lumbermens Mutual Insurance coverage Firm, a shell firm with insurance coverage licenes and a treasury itemizing.
These acquisitions are a part of a broader technique by HDI, the guardian firm of HDI International Insurance coverage Firm too, to rapidly enter the surety and constancy insurance coverage enterprise within the US, in addition to to discover different future alternatives.
HDI International Specialty CEO Ralph Beutter stated: “The elevated shareholding in Falcon and the acquisition of Indiana Lumbermens align completely with our ambitions at HDI International to broaden our presence and ship superior insurance coverage options to shoppers within the US. We wish to drive important progress within the US specialty market, appeal to top-tier underwriting expertise and generate worthwhile natural progress.
“The current enhance of our stake in Falcon underlines the significance of the company for these plans within the US and creates the required circumstances to make the most of enticing progress alternatives in a fast-growing market.”
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