Hadron, a relatively new player in the insurance market, has announced plans to acquire The Guarantee Company of North America USA (GCNA). This Michigan-based insurance company is currently owned by Atlantic Specialty Insurance Company, a part of Intact Financial Corporation.
The acquisition is expected to be finalized in the third quarter of 2025, pending approval from regulators and other standard closing conditions. Hadron has clarified that the deal will not involve any transfer of net premiums, net loss reserves, or employees from GCNA.
This move is part of Hadron’s strategy to enhance its national presence and increase its ability to offer admitted insurance products to its clients and partners. Hadron, which launched in the U.S. in 2023 with over $250 million in backing from investors like Altamont Capital Partners, aims to provide primary insurance capacity to managing general agents and underwriters focused on small to mid-sized businesses.
In addition to its U.S. expansion, Hadron made headlines in 2024 by acquiring Folgate Insurance Company in the UK, which has since been rebranded as Hadron UK. Sam Reeder, CEO of Hadron, emphasized that acquiring GCNA will enhance the company’s offerings by adding nationwide surety and admitted licensing capabilities.
GCNA has a long history, having been established in 1872. It operates across all 50 states, Washington, D.C., and Puerto Rico, and is recognized as an acceptable surety provider for federal bonds. The company, which was acquired by Intact Financial in December 2019, generates approximately $44.8 million in annual revenue and employs around 185 people. It holds an A+ (Superior) financial strength rating from AM Best, underscoring its stability in the insurance sector.
This acquisition marks a significant step for Hadron as it seeks to broaden its reach and capabilities in the competitive insurance landscape.