Amynta Group Buys Virginia-Based Southern States Underwriters MGU

Amynta Group, an insurance services firm and managing general agent based in New York, said it has acquired Southern States Underwriters and SSC Insurance Agency, based in Richmond, Virginia.

The underwriter and agency are the insurance operations of Southern States Cooperative, a 103-year-old agricultural retail and service co-op that supports farm and related operations in six Southern states.

Southern States Underwriters is a managing general underwriter offering property and liability coverage for suppliers and distributors in agriculture, the companies said in a news release. It also is the attorney-in-fact for Southern States Insurance Exchange, a reciprocal insurer for the agribusiness market.

John Madden is president and will continue to lead the business, Amynta said in a news release.

Amynta said it manages more than $4 billion in premium in North America, Europe and Australia. It is owned in part by Madison Dearborn Partners, a private equity group that bought a majority stake from AmTrust Financial in 2022, according to company and news reports.