BISYS, a global provider of business process outsourcing solutions for the financial services sector, announced its acquisition of San Francisco-based Tri-City Brokerage, the nation’s seventh largest commercial lines property/casualty (P/C) wholesaler and the third largest independent wholesaler. The acquisition marks BISYS’ entrance into the high-growth commercial P/C insurance marketplace.
Independent retail agents comprise the primary market Tri-City Brokerage serves. Operating as an intermediary in the placement of commercial P/C insurance, Tri-City links its nationwide distribution channel of more than 1,200 retail brokers and agents with the products manufactured by more than 60 P/C insurance carriers, and supports the distribution process with complete sales and back-office support services.
It specializes in insurance solutions for complicated casualty risks; commercial and habitational real estate such as apartment and condominium complexes; high-limit property catastrophe; director and officer liability; errors and omissions liability; and employment practices liability.
Tri-City will operate as the third component of the BISYS Insurance and Education Services group, and will maintain its offices in San Francisco, Chicago, New York City, and Long Island.
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