Hadron has announced a definitive agreement to acquire The Guarantee Company of North America USA (GCNA USA), a Michigan-domiciled insurer, from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation.
The acquisition is expected to close in the third quarter of 2025, subject to regulatory approval and customary closing conditions. Hadron noted that the transaction will not include the transfer of any net premiums, net loss reserves, or employees.
Founded in 2023, Hadron entered the U.S. market with over $250 million in committed capital from Altamont Capital Partners and other institutional investors. The company provides lead and primary insurance capacity to Managing General Agents (MGAs) and Managing General Underwriters (MGUs) serving small to mid-sized businesses.
Expanding its international footprint, Hadron entered the UK market in 2024 through the acquisition of Folgate Insurance Company, a heritage insurer established in 1887. Following the acquisition, Folgate rebranded as Hadron UK.
About GCNA USA
GCNA USA holds licenses to operate across all 50 U.S. states, Washington, D.C., and Puerto Rico. It also maintains a Certificate of Authority from the U.S. Department of the Treasury, qualifying it as an acceptable surety provider for federal bonds.
Established in 1872, The Guarantee Company of North America began by offering fidelity bonds to railway workers, particularly those employed by the Grand Trunk Railway. In December 2019, the company was acquired by Intact Financial Corporation.
GCNA currently reports annual revenues of approximately $44.8 million and employs around 185 people. The U.S. subsidiary, GCNA USA, holds an A+ (Superior) financial strength rating from AM Best.
