Specialty Program Group Acquires Assets Of California-Based Monarch E&S Insurance Services

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Sep 07, 2017, 08:00 ET

SUMMIT, N.J., Sept. 7, 2017 /PRNewswire/ -- Specialty Program Group LLC (SPG), a leading holding company for specialty insurance underwriting and MGA facilities, announced today that it has acquired the assets of Borisoff Insurance Services, Inc. d/b/a Monarch E&S Insurance Services (Monarch E&S). Terms of the acquisition were not disclosed.

Established in 1986 and based in Burbank, California, Monarch E&S is a full service MGA and wholesale brokerage firm providing solutions for many different lines of business in both the commercial and personal lines segments. CEO of Monarch E&S, Derek Borisoff, started running Monarch in 1994 and assumed majority ownership in 2001.

"After years of steady growth, we recognized the need to become part of a much larger team to best serve our retail agent customers. Specialty Program Group fills that need and more," said Borisoff. "The ability to utilize SPG's resources allows Monarch to better serve our clients by enhancing the customer experience and expanding product solutions."

Chris Treanor, President and CEO of Specialty Program Group, shares in Derek's enthusiasm. "Derek and his team built a fantastic business by delivering superior customer service and great products to their customers. They have a strong culture that emphasizes teamwork, customer service, creativity and integrity. Their business fits in perfectly with SPG's strategy to acquire best in class specialty businesses and help them scale by providing additional access to capital, market relationships, distribution and process efficiency."

About Specialty Program Group
Headquartered in Summit, NJ, Specialty Program Group focuses on expanding program underwriting and specialty businesses. For more information, please visit specialtyprogramgroup.com

CONTACT:
Media: Yiana Stavrakis
Phone: 908-790-6801
[email protected]

M&A: Chris Treanor
Phone: 908-790-6884
[email protected]

SOURCE Specialty Program Group