Amynta Group has agreed to acquire Southern States Underwriters and SSC Insurance Agency, the insurance operations of Southern States Cooperative, Inc. The Richmond, Virginia-based managing general underwriter has specialized in commercial property and casualty insurance for the agricultural supply chain since 1953. Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2026.
Southern States Underwriters serves suppliers, distributors, and service providers for the agricultural industry. It also acts as attorney-in-fact and exclusive distribution partner for the Southern States Insurance Exchange, a reciprocal insurer dedicated to the agribusiness market. John Madden, president of Southern States Underwriters, will continue to lead the business after the acquisition.
Robert Giammarco, chairman and CEO of Amynta Group, described Southern States Underwriters as a well-established business with more than 70 years of focus on the agribusiness market and said Southern States Cooperative would remain an important, long-term customer.
The exclusive distribution arrangement between Southern States Underwriters and the Southern States Insurance Exchange is the element most worth tracking for agribusiness brokers. The reciprocal structure and exclusive attorney-in-fact role are specific to the cooperative's membership base - they are not standard commercial paper, and it is not yet clear whether Amynta's ownership changes anything about access terms or underwriting guidelines for accounts placed through that channel. The clearest signal of continuity so far is the retention of Madden as president. Brokers placing agricultural supply chain accounts through Southern States Underwriters should confirm that underwriting guidelines and market access terms remain unchanged after closing rather than assuming continuity by default.
Agribusiness is a specialist placement line. Suppliers, feed distributors, and farm services companies often require tailored coverage for equipment, cargo, product liability, and premises exposures - combinations that standard commercial lines markets frequently cannot accommodate. MGUs with deep sector history carry underwriting appetite and product knowledge that takes years to build, which is part of what makes this acquisition attractive to Amynta and part of what makes post-acquisition continuity questions meaningful for brokers.
Amynta Group manages over $4 billion in total premium across North America, the United Kingdom, Europe, and Australia. The company has expanded its specialty and wholesale footprint steadily through acquisition. Earlier in 2026, it combined Scion Underwriting Services into Ambridge Group to create an integrated specialty casualty platform. The acquisition of International Sureties completed in late 2025 extended its surety capabilities across admiralty, logistics, and court bonds. Southern States Underwriters represents Amynta's first publicly disclosed entry into the agribusiness segment.
The broader MGA market gives context for the deal's logic. Conning's July 2026 study of the US MGA market puts total direct premium written through statutory filings at $102.6 billion in 2025, a 12% increase from 2024 and more than double the broader property-casualty market's growth rate for the year. The pace of consolidation has accelerated alongside that growth, as capital providers seek to deploy through established specialty channels rather than build from scratch.
