CRC Group, a leading wholesale specialty insurance distributor in North America, announced that the company closed on the acquisition of Constellation Affiliated Partners. The addition of Constellation Affiliated Partners more than doubles the size of CRC Group’s Specialty Programs Division and creates one of the largest program managers in North America. CRC Group’s new Specialty Programs Division now places more than $2.4B in premium across more than ten industry and specialty segments.
“We are excited to welcome Constellation Affiliated Partners into the CRC Group family,” said Dave Obenauer, CEO of CRC Group. “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 Programs Division will help us meet that growing need in today’s difficult insurance marketplace.”
Bill Goldstein, who joined CRC Group from Constellation Affiliated Partners, will serve as CEO of CRC Group’s Specialty Programs Division. Additionally, Nicholas Bozzo from CRC Programs and Brian Norman from Constellation Affiliated Partners have been appointed Co-Presidents of the Company’s Specialty Programs Division.
“We see the combined programs platform as a growth engine for the future,” said Goldstein. “We will be bringing new programs and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology. We will also continue to seek strategic acquisitions and partnerships to grow the breadth of our programs offerings in the months and years ahead.”
This transaction is CRC Group’s eighth acquisition in the last 18 months. “CRC Group’s successful track record of acquisitions reflects our continued commitment to investing in CRC Group for the benefit of our clients, carrier partners, and teammates,” said Obenauer.
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