Acquisition helps firm’s plan to broaden its footprint
Monarch E&S Insurance coverage Providers, a division of Specialty Program Group, which operates as SPG Insurance coverage Options in California, has introduced that it has acquired the belongings of Commonwealth Underwriters, a specialty strains managing basic agent and wholesale dealer.
Commonwealth Underwriters makes a speciality of securing protection for hard-to-place dangers not written by the usual market. It affords an array of services and products, with a powerful give attention to extra and surplus strains.
“Monarch E&S is happy to amass the enterprise of Virginia-based Commonwealth Underwriters,” stated Derek Borisoff, CEO of Monarch E&S. “Barry and Julia Scott have constructed a extremely regarded group. Their repute with each retail dealer clients and binding markets coincides completely with Monarch E&S’s working philosophy. We stay up for working with Barry’s workforce to make the general group even higher.”
The acquisition is a part of Monarch E&S’s plan to broaden its footprint and solidify its place within the E&S house, the corporate stated.
“We’re very excited to hitch forces with Monarch E&S,” stated Barry Scott, CEO of Commonwealth Underwriters. “Monarch E&S shares the identical values that Commonwealth Underwriters was constructed upon. We stay up for the extra merchandise and markets this can carry to raised serve our retail clients.”
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