Specialty Program Group has acquired the assets of California-based Borisoff Insurance Services, which does business as Monarch E&S Insurance Services. Terms of the acquisition were not disclosed.
Monarch E&S is a full-service MGA and wholesale brokerage firm offering products in both commercial and personal lines.
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“After years of steady growth, we recognized the need to become part of a much larger team to best serve our retail agent customers,” Monarch CEO Derek Borisoff said. “Specialty Program Group fills that need and more. The ability to utilize SPG’s resources allows Monarch to better serve our clients by enhancing the customer experience and expanding product solutions.”
“Derek and his team built a fantastic business by delivering superior customer service and great products to their customers,” said Chris Treanor, president and CEO of Specialty Program Group. “They have a strong culture that emphasizes teamwork, customer service, creativity and integrity. Their business fits in perfectly with SPG’s strategy to acquire best-in-class specialty businesses and help them scale by providing additional access to capital, market relationships, distribution and process efficiency.”
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