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Insurance services provider Amynta Group has agreed to acquire Southern States Underwriters and SSC Insurance Agency (collectively, Southern States Underwriters), the insurance operations of Southern States Cooperative, Inc.
While the financial details of the agreement remain undisclosed, the closing of the transaction is anticipated in the final quarter of 2026, subject to obtaining regulatory approval.
A managing general underwriter (MGU) founded in 1953 and based in Richmond, Virginia, Southern States Underwriters provides commercial property and casualty insurance to meet the specialised needs of suppliers, distributors, and service providers for the agricultural industry.
Southern States Underwriters serves as the attorney-in-fact and exclusive distribution partner for the Southern States Insurance Exchange, a reciprocal dedicated to serving the agribusiness market.
According to the announcement, President John Madden is expected to continue to lead the business following the transaction.
Commenting on the deal, Robert Giammarco, Chairman and CEO of Amynta Group, said: “Southern States Underwriters is a well-established and respected business, dedicated to serving the agribusiness market for over 70 years.
“This new market segment nicely complements Amynta’s diversified platform. We are excited to partner with Southern States Cooperative, who remains an important, long-term customer for the business. We look forward to welcoming John Madden and his associates to Amynta.”
The post Amynta to acquire agricultural industry specialist MGU Southern States Underwriters appeared first on ReinsuranceNe.ws.
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