Hadron makes admitted play after agreeing GCNA acquisition

By Chris Munro

April 14 - (The Insurer) - Hadron has agreed to acquire the Guarantee Company of North America USA (GCNA) from Intact Financial Corporation’s subsidiary Atlantic Specialty Insurance Company.

Hadron said the acquisition, which is expected to close in Q3 2025, marks a major milestone in its growth as it provides it with licenses to write business on an admitted basis U.S.-wide, allowing it broaden its product offerings and strengthen its position in the U.S. market.

No net premiums, net loss reserves or employees will transfer as a result of the transaction, Hadron said.

According to Hadron, Michigan-domiciled GCNA is licensed to operate in all 50 U.S. states, Washington DC and Puerto Rico.

GCNA also has a Certificate of Authority from the U.S. Department of Treasury as an acceptable surety for Federal bonds.

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

“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 specialised insurance products,” Reeder added.

Hadron launched in the U.S. in 2023 having secured over $250 million in committed capital from Altamont Capital and other institutional investors.

The company, which provides both lead and primary insurance services as well as capacity to MGAs/MGUs and program administrators that serve small to medium-sized business, entered the UK market in early 2024.