By Isha Marathe

May 12 - (The Insurer) - Canadian MGA business Revau has confirmed its newly struck "strategic partnership" with Brazos Specialty Risk Insurance and Twenty Mile Insurance Services in an announcement that confirms earlier exclusive reporting from The Insurer.

Brazos Specialty and Twenty Mile are expected to bring in the region of $200 million in premium to the new U.S. platform, The Insurer reported on Monday.

The deal is expected to expand Novacap-owned Revau's footprint across North America and arm its underwriters and leaders with real-time data.

"This is an incredible milestone for Revau, marking our evolution from a small regional MGA with ambitious goals to an industry leader expanding beyond Canada," stated Jean-François Raymond, Revau's president and CEO.

Revau said that Tom Spitalny, president of Brazos, and Christopher Polk, president of Twenty Mile and CEO of both entities, will remain with the combined company alongside their teams.

"This merger represents a significant step forward in our commitment to helping our businesses harness the full potential of their data," said Polk and Spitalny.

“By joining forces with Revau, we are creating a unique entity with the scale and expertise to tackle even the most complex data challenges and deliver the best possible results for our trading partners."

The Brazos Specialty and Twenty Mile deals mark Revau’s eighth strategic transaction, and its largest since partnering with Novacap in 2020.

Through the the new tieup, Revau is expected to bring over 30 carrier relationships from its Canadian platform, including with Lloyd’s, to those MGAs that currently sit or will join its new U.S. operation, The Insurer reported on Monday. Sources told The Insurer that Revau has an existing captive that can retain business to align with reinsurers, and is likely to deploy a similar approach over time as it builds out its operations in the U.S.