Mt. Laurel, N.J. — GMAC Insurance (GMACI), a global finance company, and Maiden Holdings Ltd., Bermuda, announced that they have closed an agreement for the acquisition of GMACI's reinsurance operations, GMAC RE, by Maiden Holdings' wholly owned U.S. subsidiary, forming a dedicated U.S. reinsurance group, Maiden Re, based in Mt. Laurel, N.J.
With GMAC RE's acknowledged leadership in reinsurance solutions, Maiden Re will bring more than 25 years of stability and market intelligence in the treaty, facultative and specialty/alternative areas of reinsurance. An established focus on property/casualty reinsurance business has grown in recent years to include A&H and E&S property insurance.
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