United Risk Completes Acquisition of Pinnacle Underwriting Based in Sydney, Australia Expanding and Strengthening Operations in the Asia-Pacific and Middle East Regions in Key Lines of Business

Specialty facultative reinsurance MGA bolsters United Risk’s business, among the largest in the world and now unique for its diversified scale and geographic reach

NEW YORK, June 18, 2025 /PRNewswire/ — Mr. Hayden Smith, United Risk’s Regional CEO with responsibility for operations in Asia and Australia, has announced that United Risk has completed the acquisition of Pinnacle Underwriting Pty Ltd., along with its affiliate Pinnacle Holdings Group Pty Ltd. (collectively, “Pinnacle Underwriting”). Pinnacle Underwriting, a specialty facultative reinsurance MGA headquartered in Sydney with offices in Melbourne, Singapore, and Dubai, manages a substantial book of reinsurance business of which 70% originates in the Asia-Pacific region with the remainder mostly in the Middle East and North Africa (MENA).

Led by a seasoned and experienced executive team and specializing in facultative reinsurance for the underlying lines of Property, Power Generation & Utilities, Onshore Oil & Gas, and Political Violence & Terrorism, Pinnacle underwrites and adjusts claims on behalf of a growing panel of high-quality ‘A’ and ‘AA’ rated carriers and distributes through all of the major reinsurance brokerages. Pinnacle’s clients are a broad base of insurance company cedants and include most of the major global insurance groups operating in the region.

Mr. Smith noted, “The acquisition of Pinnacle puts United Risk squarely within the top five largest MGAs in the world. United Risk has consistently produced solid, profitable results all across its many divisions while expanding and strengthening its MGA platforms. Now, United Risk has achieved a diversified scale and geographic reach matched by few, if any, of its peers.”

Mr. Smith continued, “On a global scale the entire premium base for the regions covered by Pinnacle is relatively small making it challenging for a primary insurer to accumulate significant premium. Gaining meaningful market exposure through reinsurance makes a lot of sense to us as we work to diversify globally.”

Mr. Smith observed further the great value that lies in Pinnacle’s property business which accounts for nearly 80% of its writings, stating, “Together with our strategic partners, we have methodically divested of nearly all property exposure in the US, such that the addition now of Pinnacle’s worldwide property business, which has been quite profitable for many years performing well through catastrophe events, immediately rounds out United Risk’s portfolio by line.”

Jon Gilliott, founder and CEO of Pinnacle Underwriting, and now a partner at United Risk, concluded: “Pinnacle has a nurtured, entrepreneurial culture, yet, ours is a highly technical business: we will benefit from this strategic partnership – one in which our values and the level of underwriting sophistication are shared. As its founder, I am enthusiastic to continue to lead Pinnacle’s advancement and progress to a new level.”

Insurance Advisory Partners and Ashurst LLP served as the exclusive financial and legal advisors, respectively, to Pinnacle Underwriting in this transaction. United Risk was advised by Clyde & Co.

About United Risk Global (www.unitedrisk.global)
United Risk Global is an international property and casualty insurance underwriting and distribution platform independently owned and operated by its practice partners and affiliated with Applied Underwriters operationally and through its common and powerful brand identity. United Risk’s home office is located at 50 Rockefeller Plaza in New York.

About Pinnacle Underwriting (www.pinnacleunderwriting.com)
Pinnacle Underwriting is a leading facultative reinsurance MGA committed to providing its primary insurer clients tailored reinsurance solutions based on a collaborative and innovative underwriting approach and known for its exceptional standard of service and support. Pinnacle Underwriting was established in 2019 and is headquartered in Sydney, Australia with offices in Melbourne, Singapore, and Dubai.

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