CHICAGO, July 10,
2024 /PRNewswire/ -- Monarch E&S Insurance
Services (Monarch E&S), a division of Specialty Program Group
LLC, announced its acquisition of the assets of Commercial Sector
Insurance Brokers, LLC (CSIB), a premier provider specializing in
contract binding, the mining industry, and coastal property
placements.
Located in Birmingham, Alabama,
CSIB is a leading Excess & Surplus (E&S) wholesale broker
known for its expertise in a variety of sectors including mining,
property, railroad, and trucking. This acquisition includes CSIB's
robust contract binding division, which focuses on a range of risks
such as contractors, lessors' risk, and hospitality. The company's
management team, with over 50 years of combined industry
experience, has established a strong network of retail brokers and
capacity providers, positioning CSIB as a formidable player in
challenging market environments.
"CSIB has established a strong reputation in our industry and
brings a depth of specialization that complements Monarch's current
offerings," said Derek Borisoff, CEO
of Monarch E&S. "Integrating CSIB will enhance our capabilities
and enable us to offer a more comprehensive contract binding
solution nationwide. We are enthusiastic about the potential to
expand our service offerings to include CSIB's expertise in the
mining sector."
Bob Bleistine, President of CSIB,
also expressed his enthusiasm for the new partnership: "Joining
Monarch E&S is a transformative move for us. It presents an
opportunity to leverage Monarch's extensive resources while
continuing to offer the high-level, specialized service our clients
expect. We are excited to contribute to and grow within Monarch's
dynamic environment."
This acquisition is set to enrich Monarch E&S's
capabilities, offering more comprehensive coverage solutions and
reinforcing its position in the industry. The collaboration will
focus on tailoring insurance products that meet the unique demands
of the mining sector and other industries, aiming to exceed client
expectations continually.
About Monarch E&S Insurance Services, a Division of
Specialty Program Group LLC (d/b/a SPG Insurance Solutions in
California)
Monarch E&S Insurance Services is built on treating its
customers with unmatched service and deep expertise in commercial
and personal lines solutions. As a full-service MGA and wholesale
broker, retail insurance agents and brokers have access to many
different lines of business through Monarch E&S. Being in
business for over 38 years has enabled Monarch E&S to gain
underwriting authority with the most highly sought-after surplus
line markets and an established reputation in the wholesale
brokerage, binding space. For more information, please visit
monarchexcess.com
About Commercial Sector Insurance Brokers, LLC (CSIB)
CSIB, headquartered in Birmingham,
Alabama, specializes in contract binding services with a
particular focus on the mining industry. Under the leadership of
Bob Bleistine, CSIB is celebrated
for its expertise and commitment to providing customized insurance
solutions. More information about CSIB can be found at
comsectorins.com.
About Specialty Program Group LLC
Specialty Program Group LLC (SPG) is a leading specialty
platform headquartered in Chicago,
IL, with a diverse portfolio of specialty insurance
operations spanning underwriting management, digital solutions,
wholesale and specialty retail brokerage, and insurance services.
SPG has a track record of scaling industry leading businesses by
providing access to business resources, technology and process
efficiency, capital and investment, deep carrier relationships, and
a broad distribution network. Visit specialtyprogramgroup.com to
learn more about how SPG can help you scale your specialty
business.
CONTACT:
SPG Media: Danny Fogel
Phone: 312-279-4755
Danny.Fogel@specialtyprogramgroup.com
Monarch E&S/CSIB: Yiana
Stavrakis
Phone: 908-790-6801
yianas@monarchexcess.com
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SOURCE Specialty Program Group