Toronto, ON (Jan. 8, 2024) – South Western Insurance Group Ltd. (SWIG) has acquired A.M. Fredericks Underwriting Management Ltd. (AMFUM). This alignment will expand each business’s potential for growth and a pathway for continued success. Terms of the transaction were not disclosed.
This year will mark 50 years in the insurance business for Tony Fredericks, who founded AMFUM 30 years ago. Upon the close of the transaction, Tony will be retiring from the MGU space after 35 years.
John A. Barclay, President and C.E.O. of SWG Group Holdings expressed, “We are honoured that Tony has entrusted us with the legacy of what he and his family built. AMFUM and SWIG are very complementary. AMFUM will bring a broad risk appetite and placement solution to our Group, and further expand our ability to solve the placement needs of our brokers.”
With Tony retiring from the business, SWIG’s Chief Underwriting Officer, Ghazal Hamid has been appointed President of AMFUM.
“We are excited to see Ghazal leverage his experience with SWIG and lead the business forward,” Barclay says.
About South Western Insurance Group Limited
South Western Group Limited is a Managing General Agent offering a broad range of insurance solutions for specialty, niche, program and hard-to-place business. Since 1961, it has proudly provided underwriting expertise to independent insurance brokers across Canada. For more information, visit swgins.com.
About A.M. Fredericks Underwriting Management Ltd.
A.M. Fredericks Underwriting Management Ltd. has been providing high risk and hard to place coverage for 30 years. As one of Canada’s leading federally licensed Managing General Underwriters, A.M. Fredericks’ national expertise in niche and non-standard commercial liability, professional liability and property risks is second to none.
SOURCE: South Western Insurance Group Ltd.
