Venbrook Group acquires construction-focused MGA Alpharetta Underwriters
Venbrook Group, a Los Angeles-based insurance distribution and services firm, has acquired Alpharetta Underwriters, a specialty managing general agent (MGA), for an undisclosed price.
Based in Alpharetta, Georgia, Alpharetta Underwriters offers customized excess and surplus (E&S) solutions to the construction sector.
The team of Alpharetta Underwriters is said to have more than 70 years of combined industry experience in the field of underwriting. The team of the MGA is claimed to specialize in construction risk.
Peter Bishop — President and CEO of Alpharetta Underwriters said: “We are impressed with the unique and growing platform that Venbrook has built around specialty underwriting programs as well as their retail, wholesale and claims service operations.
“They are the perfect partners to help us take Alpharetta to the next level in this next phase of our growth. Meanwhile, we look forward to continuing to provide the targeted, high-quality insurance solutions and client-centric service that our insured clients and wholesale partners have come to appreciate and expect from us.”
According to Venbrook Group, the acquisition will enhance its portfolio of excess and surplus programs that is already said to include top MGAs including ComStar General Insurance Solutions, Cardigan General (commercial transportation), and REAPA (commercial real estate).
Jason Turner — Venbrook Group founder and CEO said: “Peter and the Alpharetta team have established a truly exceptional franchise in just a few years since the company’s exception.
“They have built an outstanding reputation in the E&S wholesale market as the underwriters of choice for complex and challenging construction and contractor’s risks. They provide responsive, creative, and effective risk solutions that are second to none in an increasingly complex and risky business environment.”