IRVING, Texas, Oct. 9, 2017 /PRNewswire/ -- QEO Group, LLC ("QEO") and Clear Blue Financial Holdings, LLC ("Clear Blue") announced today that the two companies have agreed to a long-term, exclusive relationship for QEO to write its commercial automobile insurance program on Clear Blue's carriers, Clear Blue Insurance Company and Clear Blue Specialty Insurance Company.
"We are very excited to announce this exclusive relationship for QEO to write its commercial auto program with Clear Blue," said Jerome Breslin, Clear Blue's Chief Executive Officer. Clear Blue recently added $42 million of capital from its private equity backer, Pine Brook, to support this new growth.
"QEO is pleased to announce this exclusive, long-term relationship with Clear Blue. This provides QEO the ability to sustain its growth for the coming years, and to do so as the exclusive provider of Commercial Automobile Insurance for Clear Blue. This is a tremendous opportunity for QEO and its appointed agents," said David Disiere, QEO's Chief Executive Officer.
The relationship provides QEO with nationwide exclusivity to write its commercial automobile program for five years. "The agreement with Clear Blue, among other things, allows QEO to avoid any market confusion and channel conflicts for its agents and their customers," said David Disiere. "QEO could not be more excited about this relationship and the opportunities that it provides to fuel QEO's future growth and success."
About QEO Group, LLC
QEO Group, LLC is a privately owned, full-service MGA that offers commercial automobile insurance through its network of independent agents.
About Clear Blue Financial Holdings, LLC
Clear Blue Financial Holdings, LLC is a privately owned company, which through its wholly-owned subsidiaries offers fronting and related services to the U.S. insurance marketplace. Clear Blue is headquartered in Charlotte, North Carolina. Clear Blue is AM Best rated A- (VIII). Clear Blue Insurance Company is an Illinois domiciled insurer, and Clear Blue Specialty Insurance Company is a North Carolina domiciled insurer.
About Pine Brook
Pine Brook is an investment firm that manages more than $6.0 billion of limited partner commitments that makes "business building" and other equity investments, primarily in energy and financial services businesses. Pine Brook's team of investment professionals collectively has over 300 years of experience financing the growth of businesses with equity, working alongside talented entrepreneurs and experienced management teams to build businesses of scale without relying on acquisition leverage. For more information about Pine Brook, please visit the company's website at www.pinebrookpartners.com.
Contacts:
Ed Walsh
For QEO Group, LLC
Romph & Pou Agency
318-424-2676 ext. 345
[email protected]
Dan Kennedy
For Clear Blue Financial Holdings, LLC
980-202-5780
[email protected]
SOURCE QEO Group, LLC
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