Connecticut-based Paragon Insurance Holdings announced that its specialty media and contingency platform, Reel Media Insurance Services, has acquired WISE Risk, a wholesaler for event-driven and specialty insurance products.
WISE Risk, based in Needham, Massachusetts, is focused on the entertainment, sports, and event production sectors. The firm offers event cancellation, non-appearance, weather-related coverage, sports disability, and film and television insurance.
WISE Risk was founded in 2020 by Steve Perlini, president of the firm. Perlini is very familiar with Reel Media. He helped launch All Media Global (AMG) which served as the wholesale brokerage division of Reel Media. In 2017 AMG and Reel Media merged and Perlini became president of Reel Media. In January 2020, he founded WISE Risk.
Perlini will join Reel Media along with Vice President Lindsey Harris. Both will continue in their current roles following the acquisition
Reel Media is a managing general agency (MGA) serving entertainment, film, television, sports, motorsports and leisure markets. It has with offices in California, Massachusetts and Toronto.
Paragon Insurance Holdings is a Galway Holdings company formed in 2014 that writes commercial lines insurance across more than 25 programs.
Terms of the transaction were not disclosed.
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