US broker AssuredPartners has launched a new specialty, wholesale, and program administration company called Accretive Insurance Solutions, led by Sean Smith as Chairman and Chief Executive Officer (CEO).
Since the beginning of this year, specialty and wholesale firms in the AssuredPartners family will be organised under the Accretive structure.
Accretive aims to expand the distribution of services and expertise of these firms to reach new markets.
The company notes that as emerging risks continue to materialise, creating challenges for both insurance brokers and clients, specialty and wholesale brokers are vital for identifying sustainable coverage and programs to protect unique businesses and consumers.
Accretive’s purpose is to provide support to these essential specialty firms.
Jim Henderson, Chairman and CEO of AssuredPartners, commented: “Accretive harnesses the power and expertise of the specialised firms that have joined AP over the past ten years.
“We have some of the most innovative and ground-breaking programs in the industry, and the time is right to bring them under independent leadership to better support their continued growth and creativity.”
Smith said: “We are confident that by creating an organisation dedicated to the needs of wholesale and specialty agencies, we will be able to foster the innovative culture that enables us to bring creative solutions to clients. Accretive is a place where no risk is too complicated, and no solution is out of reach.”
John Stephens, President of Accretive P&C, added: “If the past two years have taught us anything, it is that circumstances outside of our control can derail the most solid business plans. The agencies in Accretive specialise in unique and emerging risks. We have built custom programs, and we know how to navigate the unknown, that is what differentiates us.”
