istock-472898026-m-a-8
iStock/ Designer491
2 May 2019Insurance

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.”

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

The Hartford strikes $300m ADC deal for Navigators with Berkshire Hathaway

Broking veteran partners with Warburg Pincus to start specialty risk business

Specialist broker BMS swoops on another JLT executive 

Aquiline-backed Relation beefs up leadership team with key hires 

Lloyd’s broker EC3 hires first head of broking from Integro

Join us at Intelligent Automation & AI in Insurance - 21st May: London

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
6 July 2021   The acquisition creates one of the largest programme managers in North America.
Insurance
2 October 2020   The acquisition will expand CRC’s offering in binding, transportation binding, and personal lines.
Insurance
11 March 2019   Wholesale broker CRC Group has partnered with managing general underwriter AmRisc to develop and underwrite new property products, while launching a new offering with $15 million in catastrophe coverage.