Private equity firm Preservation Capital Partners has announced the successful completion of a strategic investment in Cove Programs, a construction-focused managing general agent.
Together with cyber and specialty lines MGA Ascent Underwriting, which Preservation Capital acquired last year, the deal creates one of the largest independently owned specialty lines MGAs, managing more than $200 million in gross written premium. Ascent and Cove will continue to operate under their respective brands, Preservation Capital said. However, the businesses and senior management will combine.
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