The speciality insurance distributor CRC Services has closed on the acquisition of MGA programme administrator Constellation Affiliated Partners in a move which doubles the size of CRC Group’s speciality programmes division.
CRC Group’s speciality programmes division now places more than $2.4bn in premium across over 10 industry and speciality segments.
Joining CRC Group from Constellation Affiliated Partners, Bill Goldstein will serve as CEO of the speciality programmes division which assists clients in finding capacity with the utilisation of captives and other solutions. Meanwhile CRC Programmes’ Nicholas Bozzo and Constellation’s Brian Norman have been appointed as co-presidents of the division.
“We see the combined programmes platform as a growth engine for the future,” said Goldstein. “We will be bringing new programmes and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology. We will also continue to seek strategic acquisitions and partnerships to grow the breadth of our programmes offerings in the months and years ahead.”
The acquisition of Constellation is CRC Group’s eighth within the last 18 months. “CRC Group’s successful track record of acquisitions reflects our continued commitment to investing in CRC Group for the benefit of our clients, carrier partners, and teammates,” said Dave Obenauer, CEO, CRC Group.