MS Amlin Ltd. has agreed to buy the US management agency International Transportation and Marine Agency LLC and its subsidiaries, said Lloyd & # 39 ;s London insurance company and reinsurer on Wednesday.
The acquisition is part of a new strategy to provide access to specialized MGAs in the United States, MS Amlin said in a statement.
The primary subsidiary International Transportation & Marine Inc., based in Scottsdale, Arizona, provides marine and other specialty insurance lines. It was founded in 2001.
International Transportation and Marine will write business in the Amlin Syndicate in 2001. Don Kaitz will continue to serve as chairman, while the business will continue to be led by CEO Eric Kaitz and remain an independent MGA.
International Transportation and Marine specializes in light commercial trucking and offers coverage for physical damage and motor vehicle freight that is bound from the auto liability coverage.
MGA cooperates with both wholesale and retail brokers and all coverage is placed via A-classified or better licensed insurers.
By targeting medium-sized, niche MGAs, MS Amlin said it will balance current volatility in disaster risk and broaden its available coverage.