Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has announced its acquisition of the assets of Commonwealth Underwriters, Ltd., a specialty lines MGA and wholesale broker that has a strong presence within key markets across the US.
The acquisition represents a strategic move for Monarch E&S as the company looks to expand its footprint.
Commonwealth Underwriters offers a wide portfolio of products and services, with a particular focus on the excess and surplus lines marketplace.
Following completion of the acquisition, which will see Monarch E&S obtain Commonwealth Underwriters’ expertise and resources, the company will be better equipped to meet the evolving needs of its clients and partners.
“Monarch E&S is pleased to acquire the business of Virginia-based Commonwealth Underwriters. Barry and Julia Scott have built a highly regarded organization. Their reputation with both retail broker customers and binding markets coincides perfectly with Monarch E&S’s operating philosophy. We look forward to working with Barry’s team to make the overall organization even better,” commented Derek Borisoff, CEO of Monarch E&S.
“We are very excited to join forces with Monarch E&S. Monarch E&S shares the same values that Commonwealth Underwriters was built upon. We look forward to the additional products and markets this will bring, to better serve our retail customers.” stated Barry Scott, CEO of Commonwealth Underwriters.
