CRC more than doubles programmes business with Constellation deal
US wholesale specialty insurer CRC Group's programmes division has more than doubled in size following the acquisition of Constellation Affiliated Partners. The new expanded division now places over $2.4 billion in premium across more than ten industry and specialty segments.
CRC has completed the acquisition of Constellation to create one of the largest programme managers in North America. The transaction was CRC Group’s eighth acquisition in the last 18 months.
As part of the deal, Nicholas Bozzo of CRC programmes and Brian Norman of Constellation have been named co-presidents of the new combined specialty programmes division, under the leadership of Bill Goldstein, who is appointed as CEO of the unit.
“The world of risk is getting more complex, and both our customers and capital partners are seeking specialists to underwrite and distribute insurance solutions. Our new expanded Specialty Programmes Division will help us meet that growing need in today’s difficult insurance marketplace,” said Dave Obenauer, CEO of CRC Group.
Goldstein added: “We see the combined programmes platform as a growth engine for the future. We will be bringing new programmes and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology. We will also continue to seek strategic acquisitions and partnerships to grow the breadth of our programmes offerings in the months and years ahead.”
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