Specialty Program Group acquires New York-based MGA The Mechanic Group
New Jersey-based Specialty Program Group (SPG), an operator of specialty insurance brokerages and underwriting facilities, has acquired specialty insurance programme manager The Mechanic Group.
Established in 1989, The Mechanic Group specialises in delivering innovative risk management, insurance products and programmes to the security guard, private investigation, intelligence, electronic security, alarm installation, central station monitoring and security consulting marketplace.
Chris Treanor, president and CEO of SPG, said: “The Mechanic Group’s successful record of helping the security and investigation industry understand their exposures is invaluable. Partnering with this outstanding MGA adds to SPG’s best-in-class boutique offerings and provides a deep breadth of knowledge to the overall platform. SPG and TMG leadership will continue to create innovative solutions and consultative services to better serve our clients.”
Marc Katz, Steve Mechanic and Mike Lehner, principals of The Mechanic Group, said: “Joining the SPG team gives us the opportunity to create additional insurance products and programs for the markets we support. We couldn’t be more excited to continue our steadfast support to the markets we have dedicated ourselves to over the past 30 years with such an outstanding partner.”
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