Surplus Inc., a Spring, Tex.-based MGA, has acquired the commercial book of business from Combined Independent Agencies (CIA). The book includes property, casualty, package and commercial auto. CIA’s workers’ comp book will remain with CIA, which intends to concentrate on the workers’ comp and non-subscription markets. The change took effect Sept. 29.
This is the second acquisition for 25-year-old Surplus Inc. this year. In June, the MGA acquired Adams Special Risk of Carrollton.
While the majority of the companies CIA and Surplus Inc. represented for commercial lines were the same, Surplus did pick up a few additional insurers. The company now has access to 58 different companies.
According to Lyle Ashley, president of Surplus, this acquisition signals their intention of focusing on commercial property and casualty. “We’re focusing on our core business as is CIA,” Ashley said. “As the hard market is here… more people will be trying to find their niche.”
Topics Mergers & Acquisitions Commercial Lines Excess Surplus
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