US-based insurance distributor CRC Group has entered a definitive agreement to acquire Atrium Underwriting Group Ltd. from Stone Point Capital and other investors for an undisclosed amount.
The acquisition marks CRC Group’s first investment outside North America.
CRC expects to complete its acquisition of the London-headquartered managing general agent (MGA) in the third quarter, pending regulatory approvals and customary closing conditions.
“Atrium’s well-established reputation, disciplined underwriting culture, and specialized product offerings align perfectly with our vision for strategic growth,” said CRC Group CEO Dave Obenauer.
“CRC Group is entering a new chapter – one defined by agility, focus, and a commitment to partnering with best-in-class firms. Atrium exemplifies the type of high-quality business we are proud to align with, and we look forward to supporting their continued success under their current leadership and respected brand.”
Under the agreement, Atrium will retain its name and continue operating independently under its existing leadership within CRC Group.
“The confidence shown by CRC Group in Atrium is a testament to the strong business and brand that has been created since the company’s inception in 1984,” said John Fowle, CEO of Atrium. “As we move to the next phase of Atrium’s history, we are poised to deliver our strategic transformation agenda, one that builds on our team’s distinctive culture and Atrium’s long-standing reputation for delivering a consistent return on capital to its third-party capital providers.”
Evercore Partners International LLP acted as Atrium’s exclusive financial advisor on the transaction, with Debevoise & Plimpton LLP serving as legal counsel.
CRC Group received financial advice from Insurance Advisory Partners LLC and GC Capital & Advisory, and legal counsel from Simpson Thacher & Bartlett LLP and Norton Rose Fulbright.
Operating within Lloyd’s, Atrium is a reinsurance group managing Syndicate 609, which focuses on property, casualty, and specialty lines.
For the year ending 31 December 2024, Atrium reported total comprehensive income of £61.97 million.
Its total assets stood at £2.367 billion, with a net technical account profit of £63.8 million.
With over $30 billion in annual premium placements, CRC Group is a major force in property, casualty, and employee benefits.
In addition to its acquisition of Atrium, CRC made several strategic moves in 2025.
In May, CRC Group acquired ARC Excess & Surplus, LLC, one of the top five specialty wholesale insurance distributors in the US.
Earlier, in March, it acquired Risk Transfer Partners (RTP), a leading casualty-focused wholesale brokerage.
Is Atrium the right fit for CRC’s first overseas play? Join the discussion below.
