CRC Group, the leading wholesale specialty insurance distributor in North America, announced that the company closed on the acquisition of BenefitMall effective September 1, 2022. The addition of BenefitMall, the nation's largest benefits wholesale general agency, will enable CRC Group to provide the broadest array of insurance products and services available from any wholesale distributor in the marketplace today.
"We are excited to welcome BenefitMall as the newest part of the CRC Group team," said Dave Obenauer, CEO of CRC Group. "As the insurance marketplace and the risks faced by clients continue to evolve, it's vital that we grow strategically in ways that help us meet those needs. The addition of BenefitMall significantly expands our opportunity to support clients as they navigate the current marketplace."
With this addition, CRC Group is projected to place more than $34 billion in premiums annually and employ over 5,100 teammates throughout North America. BenefitMall will become CRC Group's employee benefits solution within the company's Life, Retirement, and Benefits Division, which was created in July 2021. BenefitMall will retain its brand name under the continued leadership of the company's existing management team.
Rob Carney, Chief Executive Officer of CRC Group's Life, Retirement, and Benefits Division, said, "The ability to offer employee benefits is a foundational cornerstone and critical component of our division as we serve the evolving needs of retail brokers. Bringing BenefitMall on board expands our offerings and allows us to enhance relationships with clients with diverse insurance needs."
Scott Kirksey, CEO of BenefitMall, said, "We are deeply proud of the reputation for excellence we have earned among our broker and carrier partners over the years, and we are excited to bring that commitment to innovation and service with us as we join CRC Group. I am confident that we will continue to deliver the fastest, easiest, and most trusted benefits selling experience as part of the CRC Group family."
This transaction marks CRC Group's eighth acquisition in the last 24 months. "CRC Group's consistent track record of successful acquisitions illustrates our dedication to investing in the long-term stability and continued growth of CRC Group to the benefit of those we serve as well as our team members and partners," said Obenauer.
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