12 July 2021Actuarial & underwriting

CRC completes acquisition of Constellation Affiliated Partners

CRC Group, the wholesale specialty insurance distributor, has closed its acquisition of Constellation Affiliated Partners (CAP), its eighth acquisition in the last 18 months.

The acquisition of CAP more than doubles the size of CRC Group’s specialty programmes division, which now places more than $2.4 billion in premium across more than ten industry and specialty segments.

Bill Goldstein, who joined CRC Group from CAP, serves as chief executive officer (CEO) of CRC Group’s specialty programmes division, while Nicholas Bozzo from CRC and Brian Norman from CAP become co-presidents.

Dave Obenauer, CEO of CRC Group, said: “The world of risk is getting more complex, and both our customers and capital partners are seeking specialists to underwrite and distribute insurance solutions. Our new expanded specialty programmes division will help us meet that growing need in today’s difficult insurance marketplace.”

Goldstein said the combined programmes platform will serve as a growth engine for the future of the business. “We will be bringing new programmes and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology,” he said.

“We will also continue to seek strategic acquisitions and partnerships to grow the breadth of our programmes offerings in the months and years ahead,” Goldstein added.