CRC Group, the Charlotte, North Carolina-based wholesale specialty and MGA business, announced the completion of its acquisition of Atrium, the Lloyd’s managing agency.
Atrium will retain its brand name and operate independently under the leadership of CEO John Fowle and its existing management team.
Financial details of the deal, which was first announced in July 2025, were not disclosed.
CRC said the acquisition marks a significant step in its global expansion strategy. “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,” commented Dave Obenauer, CRC Group CEO, in a statement.
Atrium, which manages Lloyd’s Syndicate 609 and the recently launched Syndicate 2026, specializes in property, casualty, an
d specialty insurance and reinsurance. In 2024, Atrium generated $1.3 billion in gross written premiums and maintains a long-standing reputation for delivering consistent returns to capit
al providers through disciplined underwriting and operational excellence, CRC said.
“Today marks a new chapter in Atrium’s story as we accelerate the delivery of our strategy as part of CRC Group,” said Atrium CEO Fowle. “Atrium’s unwavering commitment to mar
ket-leading underwriting performance is now underpinned by CRC Group’s long-term commitment and support as we drive the business forward.”
Insurance Advisory Partners LLC and Guy Carpenter Capital & Advisory served as financial advisers, while Simpson Thacher & Bartlett LLP and Norton Rose Fulbright served
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as legal advisers to CRC Group. Evercore Partners International LLP served as exclusive financial adviser, and Debevoise & Plimpton LLP served as legal adviser to Northshore Hol
dings Ltd., Atrium’s prior holding company. RPB served as legal counsel to Atrium and Atrium management.
In a lawsuit in state court, insurer MAPFRE contends that AAA Northeast’s insurance agency has already begun selling auto insurance policies from its affiliated insurer, Moto
r Club Insurance Co. (MCIC), to its auto club members even though the exclusive joint marketing agreement (JMA) with MAPFRE is still in effect.
According to MAPFRE, the JMA gives it the exclusive right to market and sell to AAA Northeast members using the AAA Emblem at preferential or discount pricing under the state’s group insurance law until December 31, 2026.
But, the insurer alleges, AAA Northeast is seeking to “undercut MAPFRE’s relationship with Massachusetts consumers by improperly promoting and selling insurance” through MCIC starting January 1, 2026 — a full year before the agreement is set to expire, despite MAPFRE giving notice of AAA Northeast’s violations and requesting AAA to adhere to its obligations.