CRC Group expands capabilities with latest acquisition
US wholesale specialty insurance firm CRC Group has signed a definitive agreement to acquire a large employee benefits general agency in the country.
BenefitMall will become CRC Group's employee benefits solution within the company's life, retirement, and benefits division, which was created in July 2021 and led by Rob Carney.
The transaction will provide retail agents with a broad array of insurance products and services, including property and casualty, life, annuity, long-term care, and employee benefits.
The transaction is expected to close in the third quarter of 2022, subject to satisfaction of customary closing conditions.
Dave Obenauer (pictured), CRC Group's chief executive officer, said: "The addition of BenefitMall significantly enhances our ability to support the diverse offering our retail agency partners are providing today."
With this addition, CRC Group is projected to place more than $31.5 billion in premiums annually and employ over 5,100 teammates throughout North America.
Carney added: "As we explored options for incorporating a foundational employee benefits solution into our division, it became clear that BenefitMall's strong market leadership, innovative technology platform, and collaborative organisational culture made them a perfect fit. BenefitMall will round out our offerings and give us the ability to provide strategic employee benefits solutions for businesses with a wide array of insurance needs."
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
