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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 normal company (MGA) Falcon, which is anticipated to be a development 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 ascertain HGS’ presence within the US monetary traces market.
Monetary particulars concerning the transaction weren’t revealed.
Falcon operates completely 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 growth, 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 mother or father firm of HDI International Insurance coverage Firm too, to shortly 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 increase our presence and ship superior insurance coverage options to shoppers within the US. We wish to drive vital development within the US specialty market, entice top-tier underwriting expertise and generate worthwhile natural development.
“The current enhance of our stake in Falcon underlines the significance of the company for these plans within the US and creates the required situations to benefit from enticing development alternatives in a fast-growing market.”
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