Specialty Program Group LLC (SPG) and Program Brokerage Corporation (PBC), has announced that PBC is spinning off its general wholesale, environmental, construction, cyber and professional liability divisions to SPG and will operate under the brand Specialty Wholesale Insurance Solutions (SWIS).
SWIS will become a division within Specialty Program Group LLC.
SPG is the seventh largest specialty intermediary and has over two billion in wholesale/MGA premium, 19 operating companies and divisions and over 750 employees, with offices in 24 states across the United States.
At the same time, PBC is a nationally ranked top wholesaler and powerful market resource for brokers and agents, as well as an innovative partner for carriers. As part of the transition of PBC’s general wholesale business to SPG, the wholesale leadership and management teams of PBC will join SWIS.
Meanwhile, PBC’s Program division will remain an independent subsidiary of Hub International Group Northeast Inc. and will continue to offer insurance solutions to residential co-ops, condominiums, and rental buildings, as well as the pest control industry.
“The transition to SPG from HUB will enable us to accelerate our growth strategy and expand our footprint across the country,” said SWIS President Cynthia O’Brien.
“This move within HUB also enables us to provide a seamless experience for our clients and ensures the continuation of a high level of service and support from a team they know and trust.”
SPG President & CEO, Chris Treanor, added: “The SWIS team has built one of the nation’s premier wholesale businesses and has strong reputation for expertise and service in the industry. We’re fortunate to have such top-level talent join SPG and we see tremendous growth opportunity within the SWIS specialty areas.”
