Hybrid insurer Hadron has announced it is to acquire The Guarantee Company of North America USA (GCNA), a Michigan-domiciled insurance company, from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation.

The acquisition, a major milestone for Hadron’s growth, is expected to close in the third quarter, subject to regulatory approvals and customary closing conditions.

Hadron’s capabilities and national footprint will be significantly expanded by GCNA, which holds licenses to operate in all 50 US states, Washington, D.C., and Puerto Rico, and a Certificate of Authority from the US Department of Treasury as an acceptable surety for Federal bonds.

This will enhance Hadron’s ability to deliver a broader range of admitted insurance solutions to policyholders and underwriting partners.

“This acquisition marks a pivotal step for Hadron as we continue to modernize the insurance value chain and deliver superior outcomes for our distribution partners, capacity providers, and policyholders,” said Sam Reeder, CEO of Hadron.

He continued: “By integrating GCNA’s surety licensing and broad nationwide admitted product capabilities with Hadron’s data-first approach, we will be able to deliver a wider range of solutions to meet the growing demand for diverse and specialized insurance products.”

Hadron launched in the US in 2023, backed by more than $250 million in committed capital from Altamont Capital Partners and other institutional investors.

In 2024 the firm entered the UK market with the acquisition of Folgate Insurance Company Limited.

Hadron provides both lead and primary insurance services as well as capacity to managing general agents (MGAs) or managing general underwriters (MGUs) that offer small-to-medium-sized businesses (SMBs) protection for their growing insurance needs.

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