CRC appoints co-presidents of brokerage; buys specialist marine insurer

US wholesale specialty insurance firm CRC Group has appointed Garrett Koehn and Brent Tredway as co-presidents of its brokerage division. The company has also recently acquired specialist marine insurer Continental Underwriters in the US.

Koehn and Tredway will assume national leadership roles as co-presidents of CRC’s brokerage division but divide primary responsibilities. San Francisco-based Koehn will lead the company’s efforts around engagement with national customers and the London market; diversity, equity, and inclusion; and insurtech strategies and partnerships. While Tredway, based in Houston, will lead the company’s efforts around carrier engagement, new and emerging markets, and sales management.

Both will report to Mike Brennan, who will become CEO of the company’s commercial solutions business with effect from January 1, 2021.

Brennan said: “Garrett and Brent have both played key roles in the leadership, direction, and success of our CRC Group’s Brokerage Division for the last decade plus, and I’m excited to see the impact they will make going forward in their new leadership roles.”

Earlier this month, the company announced that it has reached a definitive agreement to acquire the assets of Continental Underwriters, a provider of primary marine, excess marine liabilities, ocean cargo, and inland marine insurance.

Continental is headquartered in Covington, Louisiana with additional offices in New York, Houston, Chicago, Knoxville, and Seattle.

Fidelis Marine Underwriters and Fidelis Claims Services will also be included in the transaction. They provide underwriting, broker services, claims management and loss control assistance.

The firms expect to close the transaction later this year, after which, Continental will be part of CRC Group’s programmes division.

Commenting on the deal, CRC Group CEO Dave Obenauer said: “Continental significantly expands our capabilities in these [marine, excess marine, inland marine, and cargo] specialty insurance markets, and we are looking forward to welcoming the team to the CRC Group family.”

Continental CEO H. Elder Brown III, added: ““CRC Group’s commitment to delivering the best solutions to clients made them a great fit for our team. We are excited to continue growing and investing in our business, and we are confident this partnership with CRC Group will provide us with the tools to accomplish that on an even broader scale going forward.”