NEW YORK, April 5, 2022 /PRNewswire/ — Euclid Transactional, LLC (“Euclid Transactional”), a global managing general agent focused on transactional insurance, announced today that Hudson Insurance Group (“Hudson“) and Westfield Insurance will participate in its North American program and current partner Zurich North America has agreed to increase its committed capacity. The new and expanded insurance carrier support will raise Euclid Transactional’s maximum per-deal underwriting limit of liability to $90 million.
Hudson and Westfield join Swiss Re Corporate Solutions, SCOR, Aspen, Zurich North America and CNA in supporting Euclid Transactional’s global team, which specializes in representations and warranties, tax and contingent insurance underwriting and claims handling services.
Jay Rittberg, Managing Principal of Euclid Transactional, commented, “With use of transactional insurance at record levels, we are grateful to have support from a world class panel of creditworthy insurance carrier partners. The addition of Hudson and Westfield and increased capacity from Zurich will enhance our ability to deliver thoughtful, commercial solutions to our valued clients.”
Christopher Gallagher, President and CEO of Hudson Insurance Group, noted, “We support several affiliated Euclid programs. Our first program relationship with Euclid incepted in 2003. We are excited to expand on this core relationship by being a part of the panel that will allow Euclid Transactional to continue to focus on best-in-class execution on transactions.”
“Euclid Transactional is a leader in the growing transactional insurance market and well positioned to help our clients with their M&A deals,” stated Jack Kuhn, President of Westfield Specialty. “Westfield looks forward to supporting Euclid’s talented team through this partnership.”
John N. Colis, President and CEO of Euclid Insurance Services and a Director on the Board of Directors of Euclid Transactional, noted, “It is fantastic to have Hudson on yet another Euclid program and to welcome Westfield to Euclid Transactional’s panel of A.M. Best rated A or better carriers.”
Euclid Transactional has increased in scale significantly since its inception in 2016 and today features a team of more than 120 members across offices in New York, Chicago, Toronto, London, Frankfurt, Stockholm, and Copenhagen. The company recently expanded its tax and middle market practices in 2021 and now has the largest fully dedicated U.S.-based tax insurance underwriting team in the transactional insurance space.
Since its founding in 2016, Euclid Transactional has underwritten nearly 4,000 policies and insured deals with a combined value of over $3 trillion.
About Euclid Transactional
Euclid Transactional, LLC is a managing general agency specializing in the underwriting of representations & warranties, tax liability, contingent liability and other transactional insurance coverages. Operated by one of the industry’s largest teams of experienced underwriters and claims executives, Euclid Transactional provides the size and security of a large insurer with the customer service of a boutique. The firm has offices in New York, London, Chicago, Frankfurt, Copenhagen, Stockholm and Toronto, and offers full-service underwriting for deals across the Americas, Europe, the Middle East and Africa. Euclid Transactional is an affiliate of Euclid Insurance Services, a program administrator that provides its partners with advisory, accounting, information technology and human resource services. Euclid Transactional’s insurance capacity is provided by premier insurers, all of which are rated AM Best A (Excellent) or better.
About Hudson Insurance Group
Hudson Insurance Group is a market-leading specialty insurer that offers a wide range of property and casualty insurance products to corporations, professional firms and individuals through retailers, wholesalers and program administrators. Headquartered in New York City with offices throughout the U.S. and in Vancouver, Canada, Hudson underwrites specialty primary and excess insurance on both an admitted and non-admitted basis. Its companies are rated A (Excellent) by A.M. Best, Financial Size Category XV. Hudson Insurance Group is the U.S. Insurance Division of the Odyssey Group, a leading global provider of reinsurance and specialty insurance. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited. For more information, visit hudsoninsgroup.com.
About Westfield Insurance
Westfield Specialty Insurance Company offers innovative insurance solutions to help customers manage risk and safeguard the value of their business. Westfield Specialty is backed by Westfield, one of the nation’s leading property and casualty insurers with proven financial strength and over 2200 employees in the U.S. Westfield has an “A” XV (“Excellent”) rating by A.M. Best Company, Inc. Learn more about Westfield at www.westfieldinsurance.com.