Monday, January 23, 2023
HomeInsuranceSocius Insurance coverage Companies publicizes Kelly Underwriting Companies deal

Socius Insurance coverage Companies publicizes Kelly Underwriting Companies deal

Socius Insurance Services announces Kelly Underwriting Services deal

Socius Insurance coverage Companies, a wholesale insurance coverage dealer with a specialised deal with administration, skilled and cyber legal responsibility insurance coverage and property-casualty insurance coverage, has introduced that it has acquired the property of Kelly Underwriting Companies, a New York-based managing basic underwriter. Phrases of the transaction weren’t disclosed.

Kelly offers underwriting for skilled legal responsibility dangers and at the moment manages insurance coverage product applications together with:

  • Miscellaneous skilled legal responsibility
  • Insurance coverage brokers and brokers skilled legal responsibility
  • Architects and engineers: environmental legal responsibility, air pollution legal responsibility, expertise, laptop community safety and privateness breach

Led by president Tom Nash, Kelly will function its underwriting platform independently of Socius.

Socius is an distinctive accomplice with an excellent tradition, broadly revered status and assets for us to additional develop our MGU enterprise,” Nash mentioned. 

Socius will present company management and operational infrastructure to Kelly.

“We’re extraordinarily excited to accomplice with a devoted underwriting platform with a robust tradition and strong efficiency,” mentioned Patrick Hanley, president and CEO of Socius. “This offers us with a wonderful basis for our continued buildout of a devoted underwriting functionality.”

Learn subsequent: Revealed – IBA’s 5-Star Skilled Legal responsibility 2022 winners

“We proceed to be targeted on augmenting our robust natural progress with strategic transactions in each the wholesale and MGA area and are well-positioned to assist and speed up the expansion of comparable collaborative fashions,” mentioned Chris McKechnie, government vice chairman of Socius.

Socius, based in 1997, is without doubt one of the high 10 largest wholesale insurance coverage brokers within the US. It was named one among IBA’s Prime Insurance coverage Employers for 2022.

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