The McGowan Companies (McGowan) acquired the assets of Arbanas & Associates (Arbanas) in Grosse Pointe Farms, Michigan, effective Aug. 1.
Arbanas specializes in writing professional liability for accountants, lawyers, architects, etc., offering multiple, exclusive professional liability programs through carriers rated “A” or better by A.M. Best.
Arbanas joins forces McGowanPRO, also a leading writer of professional liability. After the transaction, the staff of McGowanPRO will remain in place, led by Gary B. Sutherland.
Arbanas’ policyholders gain access to the full range of products and capabilities offered by McGowanPRO. Coverage will be available to policyholders in all 50 states and Washington, D.C.
Most of the programs managed by McGowanPRO and McGowan Program Administrators (MPA) are available on a nationwide basis, exclusively through McGowanPRO and MPA. McGowanPRO and MPA operate on an “open brokerage” basis, meaning that their programs are available to all brokers in the United States.
With the asset purchase agreement, Arbanas sold certain of its assets, but not its liabilities, to McGowan Consolidated Insurance Holdings Group Inc. or one of its subsidiaries/affiliated companies. Arbanas was not merged with or into McGowan, and was not consolidated with or into McGowan. McGowan is not a continuation of Arbanas.
Source: McGowanPRO
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