Euclid Transactional adds CNA capacity to North America M&A programme
Euclid Transactional has added CNA as a capacity partner to its North America M&A programme, after the latter already joined the MGA’s Europe, Middle East, and Africa programme in early 2022, The Insurer reveal.
With the deal, Euclid will continue to offer up to $90mn in limit per transaction.
Since it was launched in 2016, the MGA has underwritten over 6,500 policies, for deals with a combined value of nearly $5tn, while paying out over $800mn in claims.
Euclid had previously added Hudson Insurance Group and Westfield Insurance to its North American program in mid-2022 while Zurich North America increased its line size at the time.
A spokesperson for Euclid confirmed the new capacity deal in a statement to The Insurer.
“We continue to be grateful for our fantastic panel of creditworthy insurance carrier partners,” Euclid Transactional managing principal Jay Rittberg said in a statement.
“The expansion of our already excellent relationship with a top-quality insurer like CNA will enhance our ability to deliver consistent, dependable commercial solutions to our valued clients around the globe,” he added.
Steve Goldman, SVP for affinity, financial lines and healthcare at CNA, also commented on the deal.
“Since 2022, we have been thrilled to partner with an industry leader like Euclid Transactional and are excited about further expanding our international relationship,” Goldman said.
“We believe our support will allow Euclid Transactional to continue to focus on best-in-class execution on transactions and claims handling,” he added.
John Colis, Euclid Insurance Services president and CEO and a director on the board of Euclid Transactional, also welcomed CNA to the North America panel.
“Euclid Transactional has an outstanding panel of AM Best rated A or better carriers and it is excellent to see high quality partners like CNA grow with us,” Colis said in a statement.
