McGowan Companies, a provider of specialised insurance programmes, has acquired the assets associated with the Aegis Professional Risk division from Aegis General Insurance Agency, Inc.
This transaction was completed through an asset purchase agreement with K2 Insurance Services, LLC. Aegis Pro Risk is a division focused on professional liability insurance solutions.
It was previously operated under Aegis General Insurance Agency, Inc., a specialty programme administrator offering niche insurance products. K2 Insurance Services, LLC is an insurance services firm that owns and manages a portfolio of program administrators and specialty insurance providers.
Gene Mason, President & Managing Director of Aegis Pro Risk, said: “We are very excited to become part of The McGowan Companies. Their commitment to investing in and expanding our capabilities will accrue to the benefit of our policyholders.”
“This acquisition fits exceptionally-well with McGowan’s national growth strategy,” added Thomas B. McGowan, IV, President & CEO of The McGowan Companies.
He continued: “We are very pleased to add Aegis Pro Risk’s suite of products and services to our diverse portfolio of companies. Gene and his team have a strong tradition of providing exemplary products and services to its clients… a tradition we intend to honour and continue.”
As part of the acquisition, the Aegis Pro Risk team will remain in place. Gene Mason will continue to lead the division.
