CRC Group has completed its acquisition of Atrium, a managing agency at Lloyd's, marking a key step in the firm's global expansion and specialty underwriting strategy.
Atrium, which manages Syndicate 609 and recently launched Syndicate 2026, will continue to operate under its own brand and management team, led by CEO John Fowle.The business generated $1.3 billion in gross written premiums in 2024.
CRC Group chief executive officer Dave Obenauer said the deal reinforces the company's focus on underwriting excellence and client-first service.
"We are expanding our international reach, broadening our specialty capabilities, and leveraging our combined strengths to drive innovation and create new opportunities for collaboration across our global network," Obenauer said.
Fowle added that joining CRC provides long-term support to accelerate Atrium's strategy while maintaining its commitment to market-leading underwriting performance.
"Today marks a new chapter in Atrium's story as we accelerate the delivery of our strategy as part of CRC Group," he said.
The acquisition is expected to enhance opportunities for brokers, clients and partners worldwide, combining CRC's wholesale specialty and MGA expertise with Atrium's Lloyd's platform and underwriting track record.
Financial and legal advisory teams included Insurance Advisory Partners LLC and Guy Carpenter Capital & Advisory for CRC, with Simpson Thacher & Bartlett LLP and Norton Rose Fullbright providing legal counsel. Evercore Partners International LLP and Debevoise & Plimpton LLP advised Atrium's prior holding company, Northshore Holdings, while RPB represented Atrium and its management.
The deal reflects a broader trend in the insurance market of consolidating specialty and Lloyd's-capable underwriting platforms to strengthen global reach, expand product offerings and support scalable growth in niche markets.
Earlier this month, CRC announced a massive deal to acquire Euclid Transactional, a global managing general agent specializing in transactional risk insurance. The deal is expected to broaden CRC's specialty underwriting capabilities as well as accelerate its strategy to create a comprehensive underwriting platform.
