SAN FRANCISCO, Jan. 18, 2023 /PRNewswire/ — Socius Insurance coverage Companies, Inc. (“Socius”), a number one supplier of wholesale insurance coverage options, with a specialised give attention to administration, skilled and cyber legal responsibility insurance coverage and property/casualty insurance coverage, as we speak introduced it has acquired the property of Kelly Underwriting Companies, LLC (“Kelly”), a New York based mostly managing common underwriter (MGU). Phrases of the transaction weren’t disclosed.
Led by Tom Nash, Kelly supplies knowledgeable underwriting for skilled legal responsibility dangers and presently manages 4 insurance coverage product applications. Kelly will function its devoted underwriting platform independently of Socius. Kelly’s deep wholesale relationships throughout the insurance coverage trade will allow the Kelly group to develop its product choices each organically and by strategic acquisitions. Socius will present further company management and operational infrastructure to speed up Kelly’s progress.
“We’re extraordinarily excited to companion with a devoted underwriting platform with a powerful tradition and strong efficiency. This supplies us with a wonderful basis for our continued buildout of a devoted underwriting functionality,” stated Patrick Hanley, President & CEO of Socius. “We proceed to be targeted on augmenting our sturdy natural progress with strategic transactions in each the wholesale and MGA enviornment and are nicely positioned to assist and speed up the expansion of comparable collaborative fashions,” stated Chris McKechnie, EVP of Socius. Tom Nash, the President of Kelly stated, “Socius is an distinctive companion with an amazing tradition, extensively revered fame and sources for us to additional develop our MGU enterprise.”
About Socius Insurance coverage Companies, Inc.
Socius Insurance coverage Companies, Inc. is likely one of the 10 largest wholesale insurance coverage brokers within the U.S. Based in 1997 and headquartered in San Francisco, with regional workplaces throughout the U.S., Socius makes a speciality of putting Administration Legal responsibility, E&O, Cyber Legal responsibility, Monetary Establishments, Property & Casualty and Umbrella coverages. Its greater than 100 workers have voted it the Greatest Locations to Work within the insurance coverage trade for the previous a number of years in a row. Socius is privately held, with monetary backing by Abry Companions based mostly in Boston, MA. Please see www.sociusinsurance.com for added info.
About Kelly Underwriting Companies, LLC.
Kelly Underwriting Companies, LLC is a frontrunner in outsourced underwriting for skilled legal responsibility associated dangers. With over 20 years of underwriting experience, Kelly’s present merchandise embody:
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Miscellaneous Skilled Legal responsibility,
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Insurance coverage Brokers & Brokers Skilled Legal responsibility, in addition to
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Architects & Engineers: environmental legal responsibility, contractor’s air pollution legal responsibility, know-how, laptop community safety and privateness seaside
Based mostly in Farmingdale, NY Kelly has nationwide distribution and underwrites in all 50 states and the District of Columbia. For extra info go to, www.kellyunderwriting.com.
Contact:
Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE Socius