Ambridge is based in both London and New York

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Leading insurer Brit has invested in US-based managing general agent Ambridge Partners as it continues its international expansion into niche specialty business.

Ambridge, which specialises in transactional insurance products, is based in London and New York.

It will continue to trade under the name Ambridge and underwrite for its consortium of Lloyd’s syndicates and international insurers.

Brit Global Specialty and group deputy chief executive Matthew Wilson said: “The team has built a profitable niche business, well-established in both the US and London, and we look forward to supporting the team to further expand Ambridge’s offering and platform.”

Ambridge chief executive Jesseman Pryor and president Jeffrey Cowhey will remain in their roles.

They added: “Brit’s reputation, reach and expertise will empower us to achieve our next phase of growth as the Ambridge team continues to provide our clients with creative and responsive solutions for their transactional insurance needs.”