One80 Intermediaries (One80), the Boston-based specialty insurance broker, has today announced that it has acquired Waypoint Underwriting Management, LLC (Waypoint).
Waypoint is based in Basking Ridge, New Jersey, and acts as a reinsurance specialty managing general underwriter with a considerable presence in the US market.
The company brings specialized expertise in property, casualty, workers' compensation, and accident & health reinsurance solutions. In addition, Waypoint also acts as a primary MGU for personal accident and medical insurance products. Consulting services in filing, forms, and actuarial memorandums are also provided by the firm.
Waypoint hired Dowling Hales as its financial advisor in an exclusive capacity. The latter facilitated the acquisition. The financial details related to the acquisition remain private.
“Waypoint maintains an extremely broad product offering and best in class underwriting teams which complement One80’s market leading solutions,” said Matthew F. Power, president of One80 Intermediaries.
Power furthered that the team is well poised for further diversification and profitable growth while showing commitment to client service.
“Waypoint and One80 share a common focus of bringing innovative products and services to the marketplace. Joining the One80 team will not only provide an enhanced platform to support our business, but also expand our ability to provide solutions to our reinsurance intermediaries and cedents,” said Waypoint managing partner Joseph Horan.
Meanwhile, Waypoint managing partner Jason Denechaud shared that the partnership will allow the team to support and provide our capacity partners at the level of service they have come to expect from Waypoint.
“One80’s values are closely aligned with our focus on teamwork, transparency, accountability, and respect,” he concluded.
One80 Intermediaries operates offices throughout the United States and Canada acting as an insurance wholesaler and program manager. Currently, the company offers services in over 40 locations across North America, encompassing property & casualty, professional and personal lines, life insurance, and travel/accident and health coverages.
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