US-based insurance distribution and services company Venbrook Group has acquired Alpharetta Underwriters for an undisclosed sum.
The Alpharetta, Georgia-based acquired firm offers custom-made excess and surplus (E&S) insurance solutions with focus on construction risks.
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Alpharetta Underwriters comes with more than seven decades of underwriting experience.
The acquisition is aimed at strengthening Venbrook’s existing portfolio of excess & surplus (E&S) programmes.
Its E&S programmes currently feature MGAs such as Cardigan General (commercial transportation), and ComStar General Insurance Solutions and REAPA (commercial real estate).
Venbrook founder and CEO Jason Turner said: “They have built an outstanding reputation in the E&S wholesale market as the underwriters of choice for complex and challenging construction and contractor’s risks.
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By GlobalData“They provide responsive, creative, and effective risk solutions that are second to none in an increasingly complex and risky business environment.”
Alpharetta president and CEO Peter Bishop said: “We are impressed with the unique and growing platform that Venbrook has built around specialty underwriting programs as well as their retail, wholesale and claims service operations.
“They are the perfect partners to help us take Alpharetta to the next level in this next phase of our growth. Meanwhile, we look forward to continuing to provide the targeted, high-quality insurance solutions and client-centric service that our insured clients and wholesale partners have come to appreciate and expect from us.”
In August this year, Venbrook Group bought RD Parisi Associates and David Morse and Associates (DMA).
Venbrook Group, through its subsidiaries, offers both retail and wholesale broking along with programmes, and claims services.
