Socius Insurance Services, a wholesale insurance coverage dealer with a specialised give attention to administration, skilled and cyber legal responsibility insurance coverage and property-casualty insurance coverage, has introduced that it has acquired the property of Kelly Underwriting Services, a New York-based managing common underwriter. Terms 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 brokers and brokers skilled legal responsibility
- Architects and engineers: environmental legal responsibility, air pollution legal responsibility, know-how, laptop community safety and privateness breach
Led by president Tom Nash, Kelly will function its underwriting platform independently of Socius.
“Socius is an exceptional partner with a great culture, widely respected reputation and resources for us to further grow our MGU business,” Nash stated.
Socius will present company management and operational infrastructure to Kelly.
“We are extremely excited to partner with a dedicated underwriting platform with a strong culture and solid performance,” stated Patrick Hanley, president and CEO of Socius. “This provides us with an excellent foundation for our continued buildout of a dedicated underwriting capability.”
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“We continue to be focused on augmenting our strong organic growth with strategic transactions in both the wholesale and MGA arena and are well-positioned to support and accelerate the growth of similar collaborative models,” stated Chris McKechnie, govt vice chairman of Socius.
Socius, based in 1997, is likely one of the prime 10 largest wholesale insurance coverage brokers within the US. It was named one in all IBA’s Top Insurance Employers for 2022.
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