Specialty insurance broker One80 Intermediaries (One80) has acquired ProSurance Group (PSG), a managing general agent and program manager which focuses on professional lines coverage.
PSG was founded over 20 years ago and specialises in underwriting and marketing professional lines insurance, while maintaining highly profitable programs with trusted carrier partners.
The team provides coverage for clients throughout the financial services industry such as financial planners, investment advisors, insurance agents, security broker/dealers and their registered representatives.
In addition to underwriting professional liability, PSG offers fidelity and crime coverages for commercial and financial accounts.
The firm markets through independent sub-producers and, in some cases, directly to its insureds. PSG’s offerings include advisory services, marketing, underwriting, and policy issuance.
Marsh, Berry & Company was the exclusive financial adviser to PSG, terms of the deal were not disclosed.
Matthew Power, President of One80 Intermediaries said: “One80 continues to expand our professional lines footprint throughout the US and Canada.
“Our well-established professional lines team consists of specialist entities based in New Jersey, Ohio and Toronto.
“The acquisition of PSG provides a presence on the West Coast and extends One80’s expertise within the financial lines sector. I am thrilled to welcome the team at PSG to One80.”
John Wagner, Managing Director at PSG, a division of One80 Intermediaries added: “For more than 20 years our mission at PSG is to provide our clients with the protection required for the utmost financial health.
“Partnering with One80 will allow us to expand our offerings and areas of expertise, further deepening our client relationships.”
