U.S wholesale broker CRC Group has announced the acquisition of Argenia, LLC, an MGA and surplus lines broker based in Little Rock, Arkansas.
CRC explained that the addition of Argenia will compliment its existing capabilities in Arkansas and the surrounding region, building on a previous acquisition that it made in the state last year.
In the short-term, Argenia will continue to operate under the company’s current brand with the same underwriters and the same contact information.
However, over the coming months, CRC will work to fully integrate the operations.
Terms of the acquisition were not disclosed.
“Argenia has a unique business model and a number of exclusive products which we are excited to be able to distribute more broadly to our retail agency customers nationwide,” said Dave Obenauer, CRC Group’s Chief Executive Officer.
“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 added.
Bob Alexander, President of Argenia, also commented: “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.”
