Fairview Park, Ohio-based The McGowan Companies has entered into a joint venture with Allied Specialty Insurance Inc., a subsidiary of AXA’s property/casualty and specialty risk division, AXA XL, forming McGowan Allied Specialty Insurance (McGowan Allied).
The new entity is focused on the insurance needs of the amusement and entertainment industries.
McGowan Allied will offer property/casualty insurance coverage and loss control services to amusement parks, arcades, bowling centers, carnivals, concessionaires, fairs and festivals, family entertainment centers, fireworks, miniature golf facilities, skating centers, and waterparks.
Thomas B. McGowan IV has been appointed president/CEO of McGowan Allied. Lee Stacey, formerly of McGowan Amusement, will head McGowan Allied, collaborating with Kym Tormey in the day-to-day leadership of the joint venture.
The McGowan Companies is a multi-generational, family-owned and operated conglomerate of 50+ insurance brokers, wholesalers, programs/program administrators, and reinsurance intermediaries.
Topics Mergers & Acquisitions Excess Surplus New Markets Ohio
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