Global speciality insurance provider NSM Insurance Group has acquired Strategic Underwriters International (SUI), building its position in the casualty facultative reinsurance domain.

Financial terms of the deal remain undisclosed.

A managing general agent (MGA) based in Doylestown, Pennsylvania, SUI provides facultative casualty reinsurance across various lines, including automobile liability, general liability, excess/umbrella liability, and workers’ compensation.

NSM Insurance Group president Bill McKernan said: “SUI is a dynamic company with exceptional underwriting and a proven track record of consistently producing outstanding profitability for their key reinsurance partners. SUI is leading the way in facultative reinsurance, which is often an underserved category of the industry.”

This acquisition is said to be a strategic step for NSM Insurance Group, which manages over $1.8bn in premiums across more than 25 speciality insurance programmes.

Strategic Underwriters International president Bill Reichert said: “Today is an exciting milestone as we join the NSM family of speciality insurance brands.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We have established SUI as a renowned leader in the reinsurance business based on our robust relationships and strong underwriting results. NSM has the cutting-edge resources and capacity to help our business grow by enhancing our offering to the insurance marketplace, including a focus on key product development, technology systems and AI initiatives.”

Meanwhile, last month, NSM Insurance announced the acquisition of UK-based InsurEVO, a specialist personal lines travel MGA with more than 3 million customers.

InsurEVO operates two travel insurance brands, AllClear Travel insurance and InsureandGo, in the UK.