Its various program and MGA subsidiaries write a range of segments, with Prime Specialty focused on construction, Venture Underwriters on primary and excess liability, Allstar Transportation writing commercial auto including trucking, and other MGAs specializing in surety, forestry and logging. Truist Insurance Holdings furthers growth through acquisition of Constellation Affiliated Partners, click here to learn more. 07337195 RedBird Capital Partners Deal to Sell Constellation Affiliated Partners Op. A Proud Member of Industry: Insurance (See others in industry) Address: 667 Madison Avenue 16 Th Floor New York, NY, 10065 Phone: 212-235-1000 . Although Constellation has been executing its M&A strategy largely under the radar, sources said that the completed deals represent $900mn+ of premium volume and an estimated $35mn+ of Ebitda. Constellation Affiliated Partners. We see the combined programs platform as a growth engine for the future, said Goldstein. Its four core specialty markets, including contractors' general liability, transportation, condominium/homeowners associations, and professional liability are examples of these expanded capabilities. The platform was officially launched earlier this year and is understood to have already concluded several transactions as it targets specialty MGAs, program administrators and wholesalers. Financial strength and size ratings can change and should be reevaluated before coverage is bound. Its four core specialty markets, including contractors general liability, transportation, condominium/homeowners associations, and professional liability are examples of these expanded capabilities. INSUREtrust, founded by Steve Haase in 1997, is the countrys leading specialty wholesale broker and managing general agent, distributing cyber liability, technology errors & omissions and miscellaneous professional liability coverages. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. Dave Obenauer, CEO of CRC Group commented: We are excited to welcome Constellation Affiliated Partners into the CRC Group family. Affiliated pages NodesNow LLC Software Development Minneapolis, MN . Hub raises $6.9B in debt refinancing move, 3. NEW YORK, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Constellation Affiliated Partners (Constellation) today announced the acquisition of Trinity Transportation Services (Trinity) and Global Claims Service . View competitors, revenue, employees, website and phone number. Constellation Affiliated Partners will become a part of the Truist Insurance Holdings' CRC Group, and upon completion of the deal, Constellation is expected to contribute around $160 million in . Get Free Insurance Industry News Updates Delivered to Your Email! city,state,zip,county . The Insurer comment Constellation's bid to consolidate in the MGA, program and wholesale space comes at a time when M&A continues to be active despite the Covid-19 impact that means deal volume will not keep pace with the record numbers seen in the last couple of years. At the time it was reported that the company wrote and placed premium volume in excess of $550mn, with revenues of around $165mn. They can also build value by offering more efficient tech and operating platforms that acquisitions can plug into, as well as providing economies of scale, larger geographic footprints and cross-sell opportunities. No claim to any government works or material copyrighted by third parties. Reach the largest reinsurance audience. The world of risk is getting more complex, and both our customers and capital partners are seeking specialists to underwrite and distribute insurance solutions. . CRC also named Nicholas Bozzo, formerly president of programs at CRC programs, and Brian Norman, previously managing director with Constellation Affiliated Partners, as co-presidents of its specialty programs division. CRC Insurance Services Inc., part of Truist Insurance Holdings Inc., a subsidiary of Truist Financial Corp., said Tuesday it has named former Constellation Affiliated Partners CEO Bill Goldstein as CEO of CRC Groups specialty programs division. The Constellation Affiliated Partners businesses will be combined into Truist Insurance Holdings CRC Group. This is not intended for business owner or insured use. CONSTELLATION AFFILIATED PARTNERS LLC - Bizapedia This will limit your search to that combination of words. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. CAP places upwards of $2.4 billion in annual premium, offering a full suite of underwriting, distribution, and claims management services. CRC names executives | Business Insurance 667 Madison Avenue 16th Floor, New York, New York 10065 United States, www.constellationap.com. Get Free Insurance Industry News Updates Delivered to Your Email! Financial terms of the transaction were not disclosed. Constellation Affiliated Partners LLC is in the Insurance Agents and Brokers business. Mr. Durdaller will continue to oversee the strategy, companys products, partnership and production. Newest; Filter; Local; Constellation Affiliated Partners LLC. CHARLOTTE, N.C., May 24, 2021 /PRNewswire/ -- Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it has signed a definitive agreement with RedBird Capital Partners to acquire Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers. Founded by former Goldman Sachs Partner Gerry Cardinale, RedBird today manages $4 billion of capital principally across its core industry verticals in Sports, TMT, Financial Services and Consumer. The seven MGAs that are part of Constellation are Allstar Financial Group, Norman Spencer, American Team Managers Insurance Services, RMA, Trinity Transportation Solutions, Coastal Insurance Underwriters and InsureTrust. Drug Free Workplace. Financial strength and size ratings can change and should be reevaluated before coverage is bound. INSUREtrust is also pleased to announce promotions within its management team. But generally, with hard market pricing offsetting the macroeconomic impact in many segments of the program and wholesale sector, sources have said that valuations have not taken a significant dent. Truist Financial (TFC) to Buy Constellation Affiliated Partner Constellation Affiliated Partners - Aspen Insurance - Aspen Managing Norman-Spencer becomes the One-Stop-Shop for Real Estate E&O Insurance Who is Constellation Affiliated Partners Headquarters 667 Madison Ave 11TH Fl, New York, New York, 10065, United States Phone Number (212) 235-1000 Website www.constellationap.com Revenue $62.7M Industry Software General Software Is this data correct? It is thought the start-up will not look to fully integrate the companies it acquires but has been building an integrated common technology platform that MGAs, program administrators and wholesalers will operate from. The deal was originally announced on May 24, 2021. Evercore served as financial advisor, and Fried, Frank, Harris, Shriver & Jacobson served as legal counsel to Constellation Affiliated Partners. Additionally, Hunter Maskill has been promoted to Managing Director. Constellation Affiliated Partners LLC - Who is raising money from 8 AM - 9 PM ET. The diverse group of companies within Constellation's portfolio bring a vast array of insurance and re-insurance offerings to the North American marketplace. RBC Capital Markets and Truist Securities served as financial advisors, and Willkie Farr & Gallagher LLP served as legal counsel to Truist in this transaction. View contact profiles from Constellation Affiliated Partners Popular Searches SWFI is a minority-owned organization. We will also continue to seek strategic acquisitions and partnerships to grow the breadth of our programs offerings in the months and years ahead.. Aspen Managing General Agency. What We Do Innovation & Advancement Suppliers Channel Partners Aggregators & Brokers Associations & Chambers of Commerce Work With a Leading Energy Supplier For approximately two million residential, public sector, and business customers, including three-fourths of the Fortune 100, the right supplier is Constellation. Questions Post Question There are no questions yet for this company. With more than 30 brands across over 10 industries, CAP provides data-driven and innovative niche insurance solutions to the Company's distribution partners and insureds across the . Constellation Affiliated Partners Mergers and Acquisitions Summary Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its Premium Finance companies (AFCO Credit Corporation, Prime Rate Premium Finance Corporation, Inc., and CAFO Inc.). Truist Insurance Holdings furthers growth through acquisition of The INSUREtrust brand embodies all of these elements in one, award-winning package. When typing in this field, a list of search results will appear and be automatically updated as you type. Global Wealth Conferences - SWFI Event Series, RedBird Capital Partners Deal to Sell Constellation Affiliated Partners to Truist Insurance is Completed. Its four core specialty markets are contractors general liability, transportation, condominium/homeowners associations, and professional liability. The Insurer revealed last October that Allstar Financial was working with boutique investment banking advisory firm Evercore over a potential sale. LLC, reducing the amount of capital deployment available for acquisitions or share repurchases to approximately $1 billion to $2 billion through 3Q22. CRC Groups new Specialty Programs Division now places more than $2.4 billion in premium across more than 10 industry and specialty segments. ADDITIONAL LINKS Post Question For This Company Filings. With more than 30 brands across over 10 industries, CAP provides data-driven and innovative niche insurance solutions to the Company's distribution partners and insureds across the country. Constellation Affiliated Partners LLC - Dun & Bradstreet Cision Distribution 888-776-0942 Evercore served as financial advisor, and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Constellation Affiliated Partners in this transaction. RedBird-backed Constellation buys into Allstar Financial Media Contact:Dan GagnierGagnier Communications646-569-5897. Auto Insurance | Property Insurance | Motor Club Products | Auto Claims | Property Claims | Motor Club Claims | Policy/Payments | Behind the Name | Giving Back | Constellation Affiliated Partners | News and Articles | Careers | Contact | Agents Login | Become An Agent | Partnership Advantages | Find My Rep | Privacy Policy | For the past 22 years, INSUREtrust has continued to be a leading cyber liability insurance company. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. Constellation Affiliated Partners Company Profile: Acquisition Constellation Affiliated Partners LLC Company Profile | New York, NY | Competitors, Financials & Contacts - Dun & Bradstreet HOME / BUSINESS DIRECTORY / FINANCE AND INSURANCE / INSURANCE CARRIERS AND RELATED ACTIVITIES / AGENCIES, BROKERAGES, AND OTHER INSURANCE RELATED ACTIVITIES / UNITED STATES / NEW YORK / NEW YORK Aspen Managing General Agency. All content copyright Steve Evans Ltd. 2021 All rights reserved. Reviews Write Review There are no reviews yet for this company. Constellation Affiliated Partners is a New York-based insurance consolidator platform that specializes in acquiring MGA, program administrator and wholesale companies in the United States and Canada. We have a shared commitment to accelerating our investment in data and analytics, and look forward to continuing to grow our business, both organically and through further acquisitions," continued Howard. Completed acquisition of Constellation Affiliated Partners ; . Evercore served as financial advisor, and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Constellation Affiliated Partners in this transaction. BIs Article search uses Boolean search capabilities. This material is intended for licensed insurance agency use only. Aggregators & Brokers | Constellation Energy Constellation Affiliated Partners is a New York-based insurance consolidator platform that specializes in acquiring MGA, program administrator and wholesale companies in the United States and Canada. With more than 30 brands across over 10 industries, CAP provides data-driven and innovative niche insurance solutions to the Company's distribution partners and insureds across the . CHARLOTTE, N.C., May 24, 2021 /PRNewswire/ --Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it has signed a definitive agreement with RedBird Capital Partners to acquire Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers. We have 220,000+ readers every month & 25,000+ email subscribers. Steve Evans Ltd. registered in England No. Consolidation platforms are typically able to benefit from the natural arbitrage between a scaled business and the higher multiple it is valued at and the lower multiples it can roll-up smaller firms for. 2008-2023 Sovereign Wealth Fund Institute. Although its acquisitions so far are understood to have focused on North America, it has also shown an appetite for potential deals in the UK. The world of risk is getting more complex, and both our customers and capital partners are seeking specialists to underwrite and distribute insurance solutions, said Dave Obenauer, CEO of CRC Group. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. city,state,zip,county . This field is for validation purposes and should be left unchanged. Truist makes wholesale buy | Business Insurance Share Agents & Brokers Mergers & Acquisitions Truist Insurance Holdings Inc., a subsidiary of Truist Financial Corp., said Monday it will acquire Constellation Affiliated Partners LLC, an. Copyright 2023 by Wells Media Group, Inc. Travelers Vows Changes to Golf Course After PGA Tournaments Low Scores, Part of Florida Quarantined Due to Stucco-Eating Giant African Land Snail, Travelers Must Pay $2M for Yacht Lost in Irma: Florida Law Bars Technicality Denials, Louisiana Homeowners Eligible for Roofing Retrofitting Grants. The seven MGAs that are part of Constellation are Allstar Financial Group,. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. The INSUREtrust team is also pleased to announce the promotion of Christiaan Durdaller to President and Chief Executive Officer of INSUREtrust. The firm was founded by former Goldman Sachs partner Gerry Cardinale and has been involved with over $7bn in principal investments in North America. Advisors The Most Advanced Company Information Database Enter company name. Constellation Affiliated Partners LLC Aug 2020 - Apr 20221 year 9 months If you are not a licensed agent please disregard this communication. Constellation Weatherford Capital Auto Insurance | Property Insurance | Motor Club Products | Auto Claims | Property Claims | Motor Club Claims | Policy/Payments | Behind the Name | Giving Back | Constellation Affiliated Partners | News and Articles | Careers | Contact | Agents Login | Become An Agent | Partnership Advantages | Find My Rep | Privacy Policy |. About Truist Insurance HoldingsTruist Insurance Holdings, Inc., the sixth largest insurance broker in the U.S. and seventh largest in the world, is an indirect subsidiary of Truist Financial Corporation (NYSE: TFC). Copyright 2023 by Wells Media Group, Inc. Travelers Must Pay $2M for Yacht Lost in Irma: Florida Law Bars Technicality Denials, Car Dealer Shielded From Liability in Courtesy Car Accident, Part of Florida Quarantined Due to Stucco-Eating Giant African Land Snail, More Than 17 Million Properties Face Substantial Flood Risk: Study. Financial terms of this agreement were not disclosed. Constellation Affiliated Partners Announces Acquisition of Trinity CONSTELLATION AFFILIATED PARTNERS LLC in Wilmington, DE | Company Info Company Information Sponsored Links Company Contacts This company has not listed any contacts yet. Or find and follow Reinsurance News on social media. Constellation Affiliated Partners - Overview, News & Competitors MGA and wholesaler Allstar Underwriters operates in personal lines, small business solutions, specialty brokerage and commercial auto. Our new expanded Specialty Programs Division will help us meet that growing need in todays difficult insurance marketplace.. Constellation Affiliated Partners Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services; Crump Life Insurance Services; AmRisc; and its premium finance companies (AFCO Credit Corp., Prime Rate Premium Finance Corp., and CAFO). Our new expanded Specialty Programs Division will help us meet that growing need in todays difficult insurance marketplace., CRC Groups successful track record of acquisitions reflects our continued commitment to investing in CRC Group for the benefit of our clients, carrier partners, and teammates.. CHARLOTTE, N.C., May 24, 2021 /PRNewswire/ Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it has signed a definitive agreement with RedBird Capital Partners to acquire Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); The advisory group to insurers, reinsurers and risk managers, Alan , Steve Hearn, the CEO of Inver Re, the Ardonagh Groups , The catastrophe bond market has experienced a remarkable surge, with . The Constellation Affiliated Partners businesses will be combined into Truist Insurance Holdings CRC Group, a national wholesale distributor of specialty insurance products. It was formed by RedBird Capital Partners in. CHARLOTTE, N.C., May 24, 2021 /PRNewswire/ -- Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it has signed a definitive agreement with RedBird. We will be bringing new programs and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology. Constellation Affiliated Partners LLC. Last month it was reported that it had raised nearly $1.2bn of a targeted $1.7bn for a third fund. "We're excited to welcome Constellation Affiliated Partners clients to Truist, and have their team join our organization. CRC Group to Acquire Constellation Affiliated Partners Truist Insurance Holdings has agreed to acquire Constellation Affiliated Partners from RedBird Capital Partners. Truist Insurance Holdings furthers growth through acquisition of Steven Pacholick - .. - Constellation Affiliated Partners | ZoomInfo Get reinsurance news by email here. According to sources, Constellation will look to build off its initial acquisitions to add verticals into property, professional liability and other areas as it continues its M&A strategy. View Contact Info for Free. 2023 Weatherford Capital Management, LLC All Rights Reserved. We will be bringing new programs and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology. We look forward to integrating them into the current portfolio of companies and product offerings.. Constellation Affiliated Partners LLC (CAP), a subsidiary of CRC Insurance Services, Inc., is one of the largest program management operations in North America. Constellation Affiliated Partners will be combined into Truist Insurance Holdings' CRC Group, a leading national wholesale distributor of specialty insurance products. Constellation Affiliated Partners Announces Acquisition of - GlobeNewswire

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