United Risk Expands with Pinnacle Underwriting Acquisition
Deal News | Jun 18, 2025 | PR Newswire Cision Applied Underwriters
United Risk, a prominent international insurance underwriting and distribution platform, has completed the acquisition of Pinnacle Underwriting Pty Ltd., along with its affiliate Pinnacle Holdings Group Pty Ltd. This strategic move enhances United Risk's operations across the Asia-Pacific and Middle East regions, and positions the firm as one of the top five largest managing general agents (MGAs) worldwide. Pinnacle Underwriting, headquartered in Sydney, Australia with additional offices in Melbourne, Singapore, and Dubai, specializes in facultative reinsurance covering areas such as Property, Power Generation & Utilities, Onshore Oil & Gas, and Political Violence & Terrorism. Besides broadening United Risk's geographic and operational scale, the acquisition complements its efforts to diversify globally, specifically in property business, which forms a significant part of Pinnacle's portfolio. Facilitated by strategic advisories from Insurance Advisory Partners and Ashurst LLP for Pinnacle, and Clyde & Co. for United Risk, this acquisition signifies a robust alignment of operational expertise and strategic vision between the two entities. Pinnacle's founder, Jon Gilliott remains as a partner, highlighting a shared commitment to advancing the combined entity's reinsurance capabilities.
Sectors
- Insurance and Reinsurance
- Financial Services
Geography
- Australia – Pinnacle Underwriting is headquartered in Sydney, Australia, making this a key geographic focus in the acquisition.
- Asia-Pacific – A significant portion of Pinnacle Underwriting's business originates from the Asia-Pacific region.
- Middle East – Pinnacle Underwriting also has offices in Dubai, and a portion of its business comes from the Middle East region.
- North America – United Risk is based out of New York, making it a geographically relevant entity in this transaction.
Industry
- Insurance and Reinsurance – The article discusses the acquisition of Pinnacle Underwriting, a reinsurance managing general agent, by United Risk, highlighting its strategic importance in expanding the business in key regions.
- Financial Services – The acquisition involves financial advisory services and strategic partnerships within the insurance and reinsurance sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| United Risk | Acquirer | Companies | An international property and casualty insurance underwriting and distribution platform. |
| Pinnacle Underwriting Pty Ltd. | Target Company | Companies | A specialty facultative reinsurance MGA headquartered in Sydney, Australia. |
| Hayden Smith | Regional CEO | People | Regional CEO of United Risk responsible for operations in Asia and Australia. |
| Jon Gilliott | Founder and CEO | People | Founder and CEO of Pinnacle Underwriting, now a partner at United Risk. |
| Insurance Advisory Partners | Financial Advisor | Companies | Served as the exclusive financial advisor to Pinnacle Underwriting in this transaction. |
| Ashurst LLP | Legal Advisor | Companies | Served as the exclusive legal advisor to Pinnacle Underwriting in this transaction. |
| Clyde & Co. | Legal Advisor | Companies | Served as legal advisor to United Risk. |