CRC Group buys MGA and surplus lines broker

US wholesale specialty insurance firm CRC Group has acquired Louisiana-based managing general agency (MGA) and surplus lines broker Specialty Risk Associates.

Specialty Risk will be a part of CRC Group’s commercial solutions division.

The addition of Specialty Risk will expand CRC Group’s offering in binding, transportation binding, and personal lines.

Dave Obenauer, chief executive of CRC Group, said: “We have long admired and respected the Specialty Risk Associates team. They are proven leaders in the binding, transportation, and personal lines segments across Louisiana, Mississippi and Texas. We are excited to welcome them into the CRC Group family, and we will work together closely on the integration to be sure we bring the best of both firms to our retail agency clients.”

John Wood, president and chief executive of Specialty Risk, added: “Partnering with CRC Group will allow us to bring more to our retail agent partners. Our underwriters will have access to expanded products, additional carriers, and industry leading technology – like CRC’s REDY platform. We believe the CRC Group team shares our values and our commitment to customers, and we are truly looking forward to the new opportunities this combination will bring.”