A leading US managing general underwriter is expanding to the auto dealership and repair shop sectors with the acquisition of specialist MGU SeaFire Insurance Services LLC.
Victor O. Schinnerer & Company announced it had signed a definitive agreement to acquire the Overland Park, Kansas-based group last week, with the transaction expected to close by the end of the year.
SeaFire specializes in property/casualty insurance solutions for automobile dealerships and repair shops, including garage liability, property, pollution, auto physical damage and umbrella liability. All company leaders and employees will join Schinnerer upon the deal’s close, and will remain in the Overland Park location.
Schinnerer says its acquisition of SeaFire is part of a larger, long-term growth strategy in its P/C portfolio, which already includes specialization in oil and gas contractors, loggers and public entities.
“SeaFire’s expertise in the auto dealer and repair facility market place, reputation for underwriting excellence and client-centric culture make it an excellent addition to The Schinnerer Group,” said Schinnerer Group CEO Robert Byler.
SeaFire President Dennis Kane also welcomed the decision, commenting:
“Joining Schinnerer represents an excellent opportunity for SeaFire, our limited distribution brokerage network, policyholders, and carrier partners. We are anxious to tap into Schinnerer's technology, unique distribution opportunities, and industry-leading specialty products to bring even more value to our customers."
