Specialty Program Group (SPG) has acquired the assets of Euclid Specialty Managers (Euclid Fiduciary) from Euclid Insurance Services.
Founded in 2011, Euclid Fiduciary is a managing general agency that specializes in complex fiduciary liability and related professional liability insurance for employee benefit plans. The company insures many of America’s largest single-employer, multi-employer, and governmental employee benefit plans.
Euclid Fiduciary has underwriting and claims authority from Hudson Insurance Group, an AM Best A-rated underwriter of specialty lines programs.
“We chose to join SPG because it is the nation’s foremost insurance platform to provide top-notch specialty insurance to complex niches,” said Daniel Aronowitz, managing principal of Euclid Fiduciary. “We believe it is the perfect platform to continue to serve and protect America’s best plan fiduciaries and sponsors of employee benefits.”
“Dan literally wrote the book on fiduciary liability insurance, and he and his team are well known as thought leaders in the fiduciary market,” said Chris Treanor, president and CEO of SPG. “Their model of deep specialty expertise and autonomy aligns perfectly with our business strategy, and we welcome them to the SPG family of companies.”
Euclid Fiduciary is the latest acquisition by SPG. In December, the company acquired Ohio-based Business Underwriters Associates. In July, it snapped up Massachusetts-based ESP Insurance Brokerage.
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