For the 12 months ending 31 December 2023, Sutton managed premiums amounting to $49.68m (C$66.94m). Credit: Amnaj Khetsamtip/ shutterstock.com.

US insurance company Amynta Group has finalised its acquisition of Sutton Special Risk, a Canadian managing general underwriter specialising in niche insurance and reinsurance products.

Financial details of the deal remain undisclosed.

Established in 1978, Sutton Special Risk provides a comprehensive suite of A&H insurance products.

Its offerings include personal accident, disability, critical illness, and specialised coverages catering to the professional sports and entertainment sectors.

For the 12 months ended 31 December 2023, Sutton managed premiums amounting to C$67m.

The acquisition follows the definitive agreement signed in December 2023.

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As per the terms of the agreement, Greg Sutton, who has served as Sutton’s president and CEO for more than a decade, will continue in that role.

Amynta Group said the acquisition of Sutton will help expedite its growth plans in Canada and expand its products in the A&H sectors.

Amynta Group chairman and CEO Robert Giammarco earlier said: “Sutton brings speciality A&H capabilities to Amynta, expanding our underwriting reach with proven leaders in the market.

“We see significant opportunities to build on Sutton’s strong offering and client-centric approach to expand their business. We are excited to welcome Greg and his associates to Amynta.”

Last year, Fairfax Financial Holdings’ subsidiary Amynta Group, Brit (Brit) acquired insurance services provider Ambridge Group for $400m.

The deal includes Ambridge’s US and international divisions in Germany as well as the UK.