Monarch E&S Insurance Services (Monarch E&S), a subsidiary of Specialty Program Group LLC, known in California as SPG Insurance Solutions, has announced that it has acquired the assets of Commonwealth Underwriters, Ltd. (Commonwealth Underwriters), a specialty lines managing general agent (MGA) and wholesale broker with a significant presence in important markets across the united states of America.
In addition to offering outstanding customer service and creative solutions to its clients, Commonwealth Underwriters has established over the years a solid reputation for acquiring insurance coverage for difficult-to-place risks that are not provided by the regular market.
In order to increase its presence and bolster its position as the industry leader in excess and surplus lines offering a wide portfolio of products and services, Monarch E&S made the acquisition part of its strategic plan. Monarch E&S will be better able to fulfill the changing needs of its clients and partners thanks to the inclusion of Commonwealth Underwriters’ knowledge and resources.
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.
About Commonwealth Underwriters
Commonwealth Underwriters is a specialty lines MGA and wholesale broker with a strong presence in key markets across the United States. The company offers a diverse portfolio of products and services, with a strong focus on specialty lines insurance. For more information, please visit www.commund.com.
About Monarch E&S Insurance Services, a Division of SPG Insurance Solutions
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 Specialty Program Group
Headquartered in Summit, NJ, Specialty Program Group is a fully licensed holding company established to acquire and scale best-in-class insurance underwriting facilities and specialty businesses throughout North America. SPG has a vast portfolio of specialty companies and is over three and half billion in premium. For more information, please visit specialtyprogramgroup.com. Follow us on LinkedIn for industry updates and company news.