Hadron completes acquisition of Guarantee Company of North America USA

LITTLE ROCK, Ark. - Hadron, an insurance carrier focused on the delegated authority market, announced Wednesday it has completed the acquisition of The Guarantee Company of North America USA (GCNA) from Atlantic Specialty Insurance Company, a subsidiary of Intact Financial Corporation (TSX:IFC). Intact Financial, a prominent player in the insurance industry with a market capitalization of approximately $36 billion, has maintained dividend payments for 21 consecutive years, according to InvestingPro data.

The acquisition, Hadron’s second since its 2023 launch, provides the company with licensing in all 50 U.S. states, Washington, D.C., and Puerto Rico. It also includes Certificate of Authority from the U.S. Department of Treasury for Federal surety bonds.

"Today marks a pivotal milestone in Hadron’s journey to modernize the insurance value chain," said Sam Reeder, CEO of Hadron, in a press release statement.

The purchase expands Hadron’s specialty reach with new admitted product opportunities across its U.S. platform. The company, which is backed by more than $250 million in committed capital, is rated A- (Excellent) by AM Best.

Merger & Acquisition Services, Inc. served as sole financial advisor for the transaction, with Grant Thornton providing financial and due diligence support. Norton Rose Fulbright served as legal counsel to Hadron.

Hadron, launched in 2023, provides insurance capacity to select MGUs sourcing specialty insurance coverages. The firm now comprises Hadron Specialty Insurance Company, Hadron UK Insurance Company Limited, and The Guarantee Company of North America USA. Based on InvestingPro’s Fair Value analysis, Intact Financial appears fairly valued, with a strong overall financial health score rated as GOOD.

In other recent news, Intact Financial Corporation reported its second-quarter 2025 earnings, posting an impressive earnings per share (EPS) of $5.23. This figure significantly exceeded analysts’ expectations, which had projected an EPS of $3.93. The earnings beat highlights the company’s strong financial performance for the quarter. Despite this positive outcome, the company’s stock experienced a decline in after-hours trading. The decrease in stock value occurred even as the broader market context presented challenges. These recent developments underline the complexities investors face when assessing future prospects. The earnings report may influence analysts’ perspectives, although no specific upgrades or downgrades were noted. Investors may need to consider broader market factors alongside company-specific results.

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