Constellation Affiliated Partners has acquired INSUREtrust, a specialty wholesale broker and MGA headquartered in Atlanta, Georgia.
INSUREtrust distributes cyber liability, technology errors & omissions, and miscellaneous professional liability coverages.
Alongside its acquisition by Constellation, a New York-based insurance consolidator platform, the INSUREtrust team also announced the promotion of Christiaan Durdaller to President and Chief Executive Officer (CEO).
He will be taking on the position from former CEO and Founder, Steve Haase, who is set to retire from the company.
Additionally, Erin Burns has been promoted to Head of Brokerage, overseeing brokerage operations, along with Hunter Maskill, who has been promoted to Managing Director.
Burns will continue to represent the firm’s expertise at industry events and the educational resources the company provides its agents and clients inclusive of the INSUREtrust Agent Academy.
Maskill will have an increased role in the management of business operations while continuing his brokerage work and overseeing claims response & MGA products.
Bill Goldstein, CEO of Constellation, commented: “INSUREtrust has a stellar reputation in the cyber risk marketplace, an experienced team of brokers and underwriters, and a commitment to the development of technology to drive their business, which were driving forces behind this new partnership.
“At Constellation we strive to engage with companies that fall within our guiding principles of innovation, technology, and product excellence. The INSUREtrust brand embodies all of these elements in one, award-winning package. We look forward to integrating them into the current portfolio of companies and product offerings.”
Durdaller added: “The ability to innovate and create market differentiating products and solutions is something that has separated us from the competition since our inception.
“This new partnership with Constellation Affiliated Partners will provide us with the opportunity to broaden our technology enabled solutions, continue to develop our risk management platform and propel us to new heights.
“Constellation offers us a unique combination of the ability to keep our management at the local level, while also bringing the industry expertise of Bill Goldstein & Brian Norman along with the support of an additional $1 billion in gross written premium.
“Technology, independence and distribution were the focal points for us in our search for the right partner, all of which are achieved through Constellation’s platform and we couldn’t be more excited to become a part of it.”
The financial terms of the transaction were not disclosed.