CRC Group has agreed to acquire Atrium Underwriting from investment funds managed by Stone Point Capital, along with other investors.  

The financial terms of the deal have not been disclosed. 

Atrium Underwriting, a Lloyd’s underwriting entity managing Syndicate 609, specialises in writing specialty insurance and reinsurance across property, casualty, and other specialty business groups.  

The company generated $1.3bn of gross written premium last year. 

Atrium CEO John Fowle stated: “The confidence shown by CRC Group in Atrium is a testament to the strong business and brand that has been created since the company’s inception in 1984.  

“As we move to the next phase of Atrium’s history, we are poised to deliver our strategic transformation agenda, one that builds on our team’s distinctive culture and Atrium’s long-standing reputation for delivering a consistent return on capital to its third-party capital providers.” 

Post-acquisition, Atrium will continue to operate independently under its existing brand name within the CRC Group, retaining its current management team. 

The acquisition is scheduled for completion in the third quarter of the year, subject to standard closing conditions and regulatory approvals. 

CRC Group CEO Dave Obenauer stated: “As our first investment outside of North America, this marks an exciting and significant milestone in our company’s evolution.  

“Atrium’s well-established reputation, disciplined underwriting culture, and specialised product offerings align perfectly with our vision for strategic growth.  

Earlier this year, CRC Group acquired ARC Excess & Surplus, a specialty wholesale insurance distributor.  

ARC was integrated into CRC Specialty and continued with its existing leadership team post-acquisition.