Atlas General Insurance Services in San Diego, Calif. has acquired South Bay Underwriters from Bliss & Glennon, a Redondo Beach-based national managing general agency and surplus lines broker.
The firms said that upon closing of the transaction, scheduled for May 1, they will form a new unit of Atlas under the name Atlas Specialty Property Division. This new division will be headed by industry veteran John Coleman, who will be based in Atlas’ newly-opened Manhattan Beach, Calif. office.
The Specialty Property Division will focus on difference in conditions (DIC) Insurance, which provides coverage designed to close specific gaps in standard insurance policies for commercial risks. The division will concentrate its efforts on commercial property risks largely comprised of real estate schedules, municipalities, and retail with catastrophic exposed perils.