The McGowan Companies, a provider of specialised insurance programs, has acquired the assets of Conway Holdings, LLC, Conway E&S, Inc., and Conway Alternative Risk Solutions, LLC., collectively known as Conway.
US-based Conway is a national, well-respected group of wholesale brokerages, program administrators, program brokers, and captive managers.
It specialises in the underwriting and placement of numerous Lines of Business, the underwriting and placement of sophisticated, complex risks; the formation and management of insurance programs, and the formation and management of captive insurance companies.
Following the transaction, Conway will be rebranded under various “McGowan” brands, according to the announcement.
Additionally, led by CEO Jeff Conway, all staff will remain in place. Brokers will receive automatic, initial appointments with McGowan and its full range of products, capabilities, and services.
“We are very excited to become part of The McGowan Companies. Its extraordinary underwriting, distribution, and technological capabilities will accrue to the benefit of our brokers and policyholders,” Conway commented.
As a result of this exciting “joining of forces,” McGowan noted, the company cements its position as one of the leading insurance intermediaries in the US (including insurance brokerages, wholesale insurance brokerages, captive managers, program brokers, program administrators, and reinsurance intermediaries).
Thomas B. McGowan, IV, President/CEO of The McGowan Companies, said: “This acquisition fits exceptionally-well with McGowan’s national growth strategy.
“We are very pleased to add Conway’s suite of products and services to our diverse portfolio of companies. Conway has a strong tradition of providing exemplary products and services to its clients… a tradition we intend to honour and continue.”
Most of the programs managed by McGowan are available exclusively through McGowan on a nationwide basis.
McGowan operates on an “open brokerage” basis, meaning that its programs are available to all brokers in the US. Coverage is available in all 50 states and Washington, D.C.
