Fusion Specialty, a managing general agent, has announced a significant expansion of its partnership with HDI Global Specialty SE into the Americas. This strategic move aims to enhance their market presence and includes a new agreement to increase insurance capacity across the region.
The expanded partnership will cover representations and warranty, tax, and contingent insurance business lines, according to Fusion Specialty. This initiative not only strengthens Fusion’s mergers and acquisitions (M&A) insurance capabilities but also aligns with its overarching growth strategy, as noted in a company statement.
David Rogers, Fusion’s executive chairman, highlighted the evolution of their collaboration with HDI: “They have been our partner since the inception of our business in Australia, expanded to the United Kingdom and European Union last year, and now to the United States.”
Rogers emphasized that integrating HDI into Fusion’s Americas panel of insurers completes their global partnership.
Jim Clark, CEO of HDI Global US, underlined the significance of this partnership in HDI’s regional growth strategy, calling it a “milestone” that will enhance the company’s service offerings and diversify their risk exposure.
Clark stated, “This ensures reinforcing our reputation as a key player in transactional risk insurance within the SME and LMM sectors.”
HDI Global SE recently reported a robust performance in the first quarter, with net income rising to €104 million ($112.7 million) from €69 million. The company attributed this growth to improved pricing and expanded business activities. HDI’s strong financial position is supported by its underwriting entities, which earned AM Best’s financial strength ratings of A+ (Superior), A- (Excellent), and B++ (Good).
Fusion Specialty, established in 2018, specializes in providing M&A and financial lines coverage tailored for small and middle-sized enterprises.
The expansion of Fusion Specialty’s partnership with HDI Global Specialty SE marks a significant step forward in the company’s global growth strategy, as noted in the press release.
