New Jersey headquartered Specialty Program Group’s captive services division has acquired Sedgwick’s group captive operation. According to the companies, the transaction for the claims manager’s Alternative Risk Solutions operation, bringing it inside Specialty Captive Group, was closed at the end of 2021.
“We are thrilled to welcome the group captive team from Sedgwick,” said John Yaple, senior vice president of Specialty Captive Group.
“These employees have exceptional knowledge and experience in successfully managing group captive programs, and we look forward to the value and insights they will bring to our clients who seek guidance and management in the group captives space. We are pleased to continue expanding our platform of independent alternative risk products and the programs we offer to our clients.”
The team will continue to service existing clients, captive members and brokers, and support other Specialty Captive Group clients.
“We at Sedgwick look forward to developing an ongoing relationship with the Specialty Program Group and to continue providing outstanding claims services to the captive industry,” said Elizabeth Demaret, Sedgwick president for specialty solutions.
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. It currently has 14 portfolio companies with over $1 billion in premium.
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