Specialty broker CRC unveils major restructure; launches new division

US wholesale specialty insurance broker  CRC Group has expanded its offering with the launch of its new life, retirement, and benefits solutions division, which will include sister company Crump Life Insurance Services.

CRC will now be reorganised into three divisions: commercial solutions; specialty programme; and life, retirement, and benefits solutions.

Its commercial solutions division will include CRC, CRC Binding, and TAPCO. Specialty programmes will include 33 brands after the closing of the acquisition of Constellation Affiliated Partners announced earlier this month.

The new life, retirement, and benefits solutions division will include Crump, a third-party distributor and service provider of life, annuity, disability, and long-term care insurance as well Hanleigh, a disability insurance MGU, and Ethos, a medical stop-loss MGU.

The unit will be led by Rob Carney as chief executive officer (CEO). Carney will remain in his role as president and CEO of Crump. He will continue to report to CRC Group CEO Dave Obenauer (pictured).

The company believes the move will enable it to better serve clients across North America; the expanded CRC Group will place more than $23.5 billion in gross written premium annually.

Obenauer said: "Our new structure better aligns our offerings in a client-centric way, bringing our distribution partners and capital providers a partner that offers the broadest array of specialty insurance products in the market today."

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