Hudson Insurance coverage Group has acquired Motor Transport Underwriters Inc. (MTU), an underwriting, claims and danger management expert in the long-haul trucking arena with which Hudson does business.
The announcement stated MTU will continue to be led by Greg Bonnell and operate out of Indianapolis, Indiana.
MTU was founded in 1995 as a plan manager for insurance coverage for trucking fleets on behalf of Travelers Insurance. In 2002, MTU transferred its organization to Lincoln Common Insurance Co., exactly where it stayed until finally 2008 when it rolled its book to Hudson.
Chris Gallagher, Hudson’s president, explained the deal offers Hudson an chance to make its partnership with MTU everlasting.
Hudson Insurance coverage Group is the U.S. insurance coverage division of OdysseyRe, a home/casualty reinsurer and specialty insurer. OdysseyRe is a wholly-owned subsidiary of Fairfax Economic Holdings Restricted. Hudson underwrites specialty principal and extra insurance on an admitted and non-admitted basis by means of Hudson Insurance coverage Co., Hudson Specialty Insurance Co. and Hudson Extra Insurance coverage Co.
Gill and Roeser Holdings, Inc. acted as monetary advisor to MTU in this transaction.
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