SiriusPoint expands IMG portfolio through Assist America acquisition

US-based SiriusPoint has announced that its wholly owned subsidiary, International Medical Group (IMG), volition get Assist America, a supplier of planetary exigency question assistance services.

Assist America, established successful 1990 by George W. Howard, III, generates astir $20m annually from its assistance services.

The institution chiefly offers its solutions to insurers arsenic portion of their firm payment program products, delivering exigency assistance to much than 40 cardinal members successful North America, Asia, and the Middle East.

With this acquisition, IMG aims to broaden its standard successful the US, widen its beingness successful Asia and the Middle East, and summation its third-party question and aesculapian assistance revenue.

SiriusPoint CEO Scott Egan said: “The acquisition of Assist America represents a strategical measurement guardant successful strengthening IMG’s planetary assistance services offering. Assist America is simply a highly respected concern with heavy expertise successful exigency question assistance, and this woody creates important aboriginal maturation opportunities.

“The acquisition is accretive to some instrumentality connected equity and net per share, adds further capital-light interest income, and reinforces our committedness to gathering a diversified, high-performing portfolio.”

IMG CEO Will Nihan said: “The acquisition of Assist America expands our planetary scope and enhances our quality to present best-in-class aesculapian and question assistance solutions to clients worldwide.

“Assist America brings exceptional capabilities and a beardown reputation. Together, we volition proceed to innovate and supply unparalleled work to our partners and customers.”

The woody comes aft SiriusPoint agreed to divest its 49% equity involvement successful Arcadian Risk Capital, a managing wide agent, to Lee Equity Partners successful a woody valued astatine $139m.

Established successful Bermuda successful 2020 by manufacture seasoned John Boylan, Arcadian has an underwriting portfolio that includes wide liability, excess and surplus casualty, nonrecreational liability and spot insurance.

In August this year, Arden Insurance Services received capableness enactment from SiriusPoint for its caller security programme designed to support against wildfire risks.

"SiriusPoint expands IMG portfolio done Assist America acquisition" was primitively created and published by Life Insurance International, a GlobalData owned brand.

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