CRC Group announces that it has acquired ARC Excess & Surplus, LLC (ARC), one of the nation's top five largest specialty wholesale insurance distributors. With more than $1 billion in annual premium and a nationally recognized reputation for excellence in management and professional liability, ARC adds significant scale and capabilities to CRC Group's growing platform. The acquisition meaningfully strengthens the combined company's ExecPro practice group.

Founded in 1986 by Chris Cavallaro and headquartered in New York, ARC was established as a boutique management and professional liability wholesale broker. Over the years, ARC expanded its expertise to include property and casualty products and operates six offices across the United States, including locations in New York, California, Florida, Georgia, New Jersey, and Connecticut. ARC maintains strong relationships with over 250 carrier partners and serves over 2,000 retail brokers nationwide.

"This acquisition marks a major step forward as we continue to build CRC's specialty capabilities," said Dave Obenauer, CEO of CRC Group. "ARC's deep expertise in professional liability, strong retail and carrier relationships, and proven leadership will enhance our ability to deliver best-in-class solutions across the industry. We are excited to welcome Chris, Mike, and the entire ARC team to CRC Group and look forward to the immediate impact they will have in strengthening our ExecPro practice."

ARC Co-Founder and Executive Chairman Christopher Cavallaro also expressed enthusiasm about the partnership, stating, "Joining CRC is a tremendous opportunity for our company, employees, and clients. ARC and CRC share similar cultures, built on expertise, relationships, and doing right by our partners. We are excited to begin this next chapter together."

Michael Cavallaro, CEO of ARC, added, "CRC's national scale, technology-driven platform, and commitment to excellence align perfectly with our vision for ARC. Together, we will be able to offer even greater value, broader market access, and innovative solutions to our clients while maintaining the high level of service they expect."

ARC will join CRC Specialty, continuing to operate under its existing leadership team.

Debevoise & Plimpton served as legal counsel to CRC Group. Kramer Levin Naftalis & Frankel LLP served as legal counsel to ARC. Insurance Advisory Partners LLC served as exclusive financial advisor to certain funds managed by Stone Point Capital LLC, the majority equityholders of ARC.