CRC Group, a nationwide wholesale distributor of specialty insurance products, announced today that it has completed the acquisition of Specialty Risk Associates, Inc., a Shreveport, LA based MGA and surplus lines broker.
“We have long admired and respected the Specialty Risk Associates team. They are proven leaders in the binding, transportation, and personal lines segments across Louisiana, Mississippi and Texas,” said Dave Obenauer, CEO of CRC Group. “We are excited to welcome them into the CRC Group family, and we will work together closely on the integration to be sure we bring the best of both firms to our retail agency clients.”
The addition of Specialty Risk continues CRC Group’s expansion in binding, transportation binding, and personal lines which has seen the company add more than 80 new producers and several new offices focused on those products in the last year. Specialty Risk brings CRC Group additional talent and operations in Louisiana and across the Gulf States region.
“Partnering with CRC Group will allow us to bring more to our retail agent partners,” said John Wood, President and CEO of Specialty Risk Associates. “Our underwriters will have access to expanded products, additional carriers, and industry leading technology – like CRC’s REDY platform. We believe the CRC Group team shares our values and our commitment to customers, and we are truly looking forward to the new opportunities this combination will bring.”
Specialty Risk Associates will be a part of CRC Group’s Commercial Solutions Division. Over the coming months, the CRC and Specialty Risk teams will work together to integrate their operations. Until then, the company will continue to operate under its current brand name with no changes to location or underwriter contact details.