Acrisure buys MGA Appalachian Underwriters to tie down next $400m GWP
Broker and financial services firm Acrisure has bought a national MGA and administrator Appalachian Underwriters, bringing more than $400 million in gross written premium into its business.
Appalachian's combined MGA and wholesale distribution model allows placement of more than $400 million GWP into core business lines, including workers’ comp, commercial specialty, personal lines and transactional wholesale.
The deal to acquire Appalachian follows Acrisure’s recent acquisition of the MGA and related operations of SUNZ Insurance.
Terms of the transaction were not disclosed. Acrisure said it expects to make further related and complementary announcements during 2022.
“Appalachian presents a unique partnership opportunity,” said Greg Williams (pictured), co-founder and CEO of Acrisure. “With very few entities of its kind in existence, we’re excited about this deal and the acceleration it will provide.
"This new Partnership will expand our technology platforms as we integrate data and systems with our artificial intelligence (AI) strategy," he said, tipping his hat to Appalachian’s dataset, including claims, as Acrisure builds its models and product offer.
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