Hudson Insurance Group Acquires Motor Transport Underwriters Inc.
Hudson Insurance Group has completed the acquisition of Motor Transport Underwriters Inc. (MTU), which specializes in underwriting, claims, and risk management specifically for the long-haul trucking industry, a sector where Hudson is already engaged.
Following the acquisition, MTU will continue to be managed by Greg Bonnell and operate from its base in Indianapolis, Indiana.
Established in 1995 as a program manager for trucking fleet insurance through Travelers Insurance, MTU transitioned its business to Lincoln General Insurance Co. in 2002. In 2008, MTU moved its operations under Hudson’s umbrella.
Chris Gallagher, President of Hudson, remarked that this acquisition solidifies Hudson’s partnership with MTU on a permanent basis.
Hudson Insurance Group operates as the U.S. insurance branch of OdysseyRe, known for property/casualty reinsurance and specialty insurance, which is wholly owned by Fairfax Financial Holdings Limited. Hudson offers specialty primary and excess insurance through its various companies including Hudson Insurance Co., Hudson Specialty Insurance Co., and Hudson Excess Insurance Co.
In this transaction, Gill and Roeser Holdings, Inc. served as financial advisors to MTU.
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Topics:
Mergers & Acquisitions | Excess Surplus | Underwriting | Trucking
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