CRC Group swoops for surplus lines broker

CRC Group swoops for surplus lines broker | Insurance Business America

CRC Group swoops for surplus lines broker

Specialty insurance wholesaler CRC Group is continuing its acquisition streak, today announcing that it has completed the acquisition of W. Brown & Associates Property & Casualty, an Irvine, CA-based surplus lines broker and MGA. The news comes only a month after the company revealed that it was picking up Specialty Risk Associates, Inc.

W. Brown’s operations include brokerage, P&C binding, and transportation binding services. The acquired firm will merge with CRC Group’s commercial solutions division, and the two firms will work together to integrate the brand and its operations over the coming months. The terms of the sale were not disclosed, and W. Brown & Associates Aviation was not included as part of this transaction.

According to a Press release, this deal will help grow CRC’s binding franchise and adds a physical office in California for the first time.

“W. Brown’s binding operations are a critical component for the future as we seek to build on the continued momentum of our binding expansion,” said West McAdams, president of CRC binding. “We truly are a ‘one-stop-shop’ for the wholesale needs of clients and this addition only serves to add more strength to that commitment.”

The move also builds on the ongoing expansion of CRC Binding following the Specialty Risk Associates acquisition, alongside the addition of around 100 new producers and the opening of a handful of new binding offices during the past 12 months.

“Together, CRC Group and W. Brown will offer more to our agency customers. Across brokerage and binding, the combination brings outstanding benefits to the retail agents both firms serve in California and beyond,” said Dave Obenauer, CEO of CRC Group, in a statement. “We are excited to welcome the W. Brown team to the CRC Group family.”

Meanwhile, Brian English, president of W. Brown & Associates, commented: “We are looking forward to leveraging the new tools and resources that CRC Group allows us to bring to our clients. Joining CRC Group will strengthen our brokerage and binding operations by giving us access to additional markets, exclusive products, and the REDY data and analytics platform. Our shared values of putting clients first make CRC Group a great partner for W. Brown.”