Speciality insurance broker One80 Intermediaries (One80) has acquired Pearl Insurance for an undisclosed sum to expand its presence.
The acquired firm is an insurance broker, third party administrator, managing general underwriter and programme manager.
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It offers professional liability and personal lines insurance coverage and also caters to the speciality insurance needs of associations and unions.
It provides life and health insurance services to affinity groups, while professional liability services offered include commercial insurance products. The personal lines offerings include home and auto insurance.
Pearl Insurance has operations in all the states of the US and employs over 350 people.
One80 Intermediaries president Matthew Power said: “The team at Pearl Insurance delivers talented and seasoned leadership, a scalable proprietary technology platform, deep marketing expertise, strong carrier relationships and exceptional client relationships.”
Pearl Insurance also has partnerships with over 100 carriers and delegated binding authority on behalf of many of them throughout the US and UK.
Pearl Insurance managing director Gary Pearl said: “Over the past five years, Pearl has made the tactical decision to focus on platform development and operational efficiencies to position our firm for future growth and scalability. I strongly feel that One80 will be a strong strategic partner to help us accelerate growth while leveraging our market-leading capabilities, and maintaining our winning workplace culture.”
In November 2021, One80 acquired wholesale insurance broker CPro Associates.
