Alliant Insurance Services has announced its acquisition of Property Owners Protection Insurance Company, LLC (POPIC), a captive program manager specializing in serving the multifamily and single-family residential real estate sectors.
Headquartered in Costa Mesa, California, POPIC offers risk management solutions that funnel revenue streams, traditionally directed towards carriers or third parties, back to property owners and managers. POPIC’s suite of services includes the structuring of captives, program management, and tenant compliance administration.
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The integration of the POPIC team into Alliant’s AUS division marks a significant enhancement of Alliant’s capabilities in the real estate sector. Terms of the acquisition were not disclosed.
Greg Zimmer, chief executive officer at Alliant, praised POPIC’s contribution to the industry, emphasizing the company’s success in aiding property owners and managers in handling risk effectively to enhance their revenue.
“POPIC has a proven track record of helping large property owners and managers assume moderate and manageable risk to grow their income,” Zimmer said.
He also highlighted the diversity and expertise of the POPIC team, which includes CPAs, attorneys, and insurance and underwriting professionals, bringing a wealth of experience and a consultative approach to Alliant’s underwriting practice.
Bill Mecklenburg, senior managing director at Alliant Underwriting Solutions, also noted the unique position POPIC has carved out in the market.
“The POPIC team has differentiated itself in the marketplace by combining strong institutional knowledge with a highly creative and results-driven approach,” Mecklenburg said.
The acquisition is aimed at enabling Alliant Underwriting Solutions (AUS) to diversify its services further and extend its reach within the residential real estate program administration sector.
Noah Molnar, CEO of POPIC, winner of The Best Insurance Professionals Under 40 in the USA, expressed optimism about joining Alliant, highlighting the benefits of the merger for its clients.
“Joining forces with Alliant provides our team with expanded capacity and a deep well of resources, which will help us provide an even higher level of service and responsiveness to multifamily clients nationwide,” Molnar said.
The acquisition is just the latest in a string of developments to bolster Alliant’s real estate expertise. Earlier this month, the brokerage announced the appointment of Tim Edwards as senior vice president to continue the real estate expansion.
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