Specialty insurance CRC Group buys MGA and surplus lines broker Argenia
US wholesale specialty insurance firm CRC Group has acquired Argenia, an MGA and surplus lines broker based in Arkansas, US.
Founded in 1976, Argenia was described by CRC Group CEO Dave Obenauer as having a “unique business model and a number of exclusive products”. He said his company was “excited” about distributing Argenia’s products more broadly to CRC’s retail agency customers nationwide.
“We will be very deliberate and collaborative as we work to integrate our operations and ensure there is no interruption in service for Argenia’s clients and carriers,” he said.
CRC said the acquisition will complement its capabilities in Arkansas and the surrounding region and that it builds on a previous purchases in the state last year.
Argenia will continue to operate under its brand in the In the short-term with the same underwriters.Operations will be “fully integrated” with CRC over the next few months, the company said.
Bob Alexander, Argenia president, said: “Joining CRC Group will allow us to expand our product offerings as well as provide additional tools and improved services to our clients. The Argenia team is looking forward to the expanded opportunities this transaction will bring.”
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