Hadron has announced its intent to acquire The Guarantee Company of North America USA (GCNA), a Michigan-domiciled insurance company, from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation.
The transaction is expected to close in the third quarter of 2025, pending regulatory approval and customary closing conditions.
According to Hadron, no net premiums, net loss reserves, or employees will transfer as part of the deal.
Hadron said that the acquisition will extend its national presence and expand its capacity to offer admitted insurance products to policyholders and underwriting partners.
Hadron launched in the US in 2023 with more than $250 million in capital committed by Altamont Capital Partners and other institutional backers. It offers lead and primary insurance capacity to managing general agents (MGAs) and managing general underwriters (MGUs) serving small to mid-sized businesses.
Hadron also expanded into the UK in 2024 by acquiring Folgate Insurance Company. Under the deal, Folgate, a longtime insurance entity established in 1887, rebranded as Hadron UK.
Sam Reeder (pictured above), CEO of Hadron, said the addition of GCNA’s nationwide surety and admitted licensing capabilities will allow the company to offer a broader set of solutions.
GCNA holds licenses to operate in all 50 US states, Washington, D.C., and Puerto Rico, and has a Certificate of Authority from the US Department of the Treasury as an acceptable surety provider for federal bonds.
Established in 1872, GCNA began by offering fidelity bonds for railway employees, notably those of the Grand Trunk Railway. In December 2019, GCNA was acquired by Intact Financial Corporation.
As of recent estimates, GCNA's annual revenue stands at approximately $44.8 million, with a workforce of around 185 employees. The US subsidiary, GCNA USA, has been assigned an A+ (Superior) financial strength rating by AM Best.
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