Wholesale specialty insurance distributor CRC Group Inc. Monday said it has acquired SLB Insurance Group, a binding authority operation with offices in Ft. Lauderdale, Florida, and New Orleans.
Terms of the deal were not disclosed.
Founded in 2000, SLB specializes in small to midmarket property and casualty, trucking, and personal lines insurance, CRC said in a statement.
Darren Marsh, Trevor Keyes and Keith Hinson “will continue to lead SLB, reporting to Brennan Paris,” president of CRC Binding, the statement said.
Nearly all of SLB’s approximately 40 employees will remain onboard, according to an email from a spokeswoman.
The acquisition expands CRC Group’s binding operations in the Southeast, the statement said.
CRC Group is owned by TIH Insurance Holdings LLC, the seventh-largest broker of U.S. business, according to the most recent Business Insurance rankings.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.