Norton Rose Fulbright advises Hadron in acquisition of The Guarantee Company of North America USA

A team of insurance M&A lawyers from global law firm Norton Rose Fulbright advised insurance carrier Hadron on its acquisition of The Guarantee Company of North America USA (GCNA) from Atlantic Specialty Insurance Company. The transaction closed on August 20, 2025, strengthening Hadron's position as a leading player in the specialty insurance market.

This strategic purchase significantly expands Hadron's national footprint with GCNA's license to operate in all 50 US states, Washington, DC and Puerto Rico. It also enhances Hadron's overall offering with a Certificate of Authority from the US Department of Treasury as an acceptable surety for federal bonds.

Hadron provides both lead and primary insurance services as well as capacity to managing general agents and managing general underwriters that serve small-to-medium-sized businesses. The company launched in the US in 2023 with more than US$250 million in committed capital from Altamont Capital Partners and other institutional investors. Hadron has scaled quickly, expanding to the UK in 2024 and completing two acquisitions since its founding.

The GCNA transaction will enable Hadron to deliver a wider range of solutions to meet the growing demand for innovative and specialized insurance products, especially for the evolving delegated authority market.

Norton Rose Fulbright's deal team was led by Kevin Fischer and Michael Schwartz and also included Bruce Baty (St. Louis), Todd Schroeder (Dallas), Annmarie Giblin, Charlene McHugh and Cameron Gourlay (New York).