Gryphon Holdings to acquire PrimeOne Insurance Company
Gryphon Holdings has entered into a definitive agreement to acquire PrimeOne Insurance Company, a privately held specialty commercial lines insurer supporting program administrators and MGAs. Financial terms were not disclosed.
PrimeOne Insurance Company focuses on niche specialty property and casualty programs, with an emphasis on disciplined underwriting, conservative capital management, strong reinsurance partnerships, and formal enterprise risk management and governance. Following the transaction, PrimeOne will operate as a core underwriting platform within Gryphon, expanding the group’s product breadth and access to global risk and capital markets.
Gryphon is financed by Phoenix Merchant Partners and is building an integrated insurance, reinsurance, and asset management platform. With PrimeOne, Gryphon’s offering spans MGA incubation, TPA services, asset management, and insurance and reinsurance capacity structured through its reinsurance carrier model.
The deal follows Gryphon-backed Freedom Underwriters LLC’s planned acquisition of Concert Group and is expected to close in the first quarter of 2026, subject to regulatory approvals.
“Partnering with Gryphon provides PrimeOne with long-term strategic capital and a broader platform to expand our underwriting capabilities while maintaining the discipline and client focus that define our business. We see this transaction as an opportunity to accelerate growth, deepen reinsurance relationships, and create new opportunities for our clients and partners.” – David Thorson, President of PrimeOne.
“We are excited to welcome PrimeOne into the Gryphon enterprise. This acquisition accelerates our vision of creating a unified platform where investors and insurance market participants can connect, innovate, and thrive. PrimeOne’s reputation and capabilities will be key assets as we continue to build out our specialty insurance, asset management, and bespoke reinsurance capacity solutions.” – Erin Brennan Bagley, CEO of Gryphon.
