Breckenridge IS Inc. has acquired a majority interest in REcentis Intermediaries LLC, a specialty reinsurance broker with offices in Westlake Village, Calif. and Sydney, Australia.
REcentis has expertise in energy, casualty and financial reinsurance. It has consulted, designed and executed reinsurance programs for risk retention groups, captives, program administrators and Fortune 500 companies. The company’s offices utilize top rated security in the United States, Australian, London and Bermuda markets.
The company was founded in 2006 by Brendan Roche, former head of R.K. Carvill & Co/’s West Coast operations, and REcentis President James Fulgentis, former executive vice president with Wachovia Securities. Roche, before joining Carvill was a partner and managing director of Minet Burn & Roche, the leading Australian reinsurance broker (and an affiliate of the St. Paul Companies). While at Wachovia, Fulgentis was responsible for West Coast municipal, government and corporate bond trading, and sales and portfolio management services.
For Breckenridge, the addition of reinsurance complements its current services in financial services, workers’ compensation, construction, public entity, transportation and alternative risk. Breckenridge IS Inc. markets property/casualty insurance solutions to brokers throughout the United States. With this acquisition, Breckenridge will have offices in 14 U.S. states plus Australia.
Breckenridge IS, Inc. is a specialty insurance underwriting manager, wholesale broker and insurance services company. Arsenal Capital Partners in New York City is a major investor in Breckenridge.
Topics Mergers & Acquisitions USA Agencies Reinsurance Australia
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