CRC Group, a nationwide wholesale distributor of specialty insurance products, has agreed to acquire the assets of Continental Underwriters. Headquartered in Covington, La., Continental provides primary marine, excess marine liabilities, ocean cargo and inland marine insurance.
Led by CEO H. Elder Brown III and in business for 50 years, Continental Underwriters has additional offices in New York, N.Y.; Houston; Chicago; Knoxville, Tenn.; and Seattle. Fidelis Marine Underwriters and Fidelis Claims Services will also be included in the transaction. The Fidelis companies provide underwriting, broker services, claims management and loss control assistance.
The firms expect to close the transaction later this year, and once complete, Continental will be part of CRC Group’s Programs Division. CRC Group and Continental Underwriters will work together to integrate operations after closing.
The terms of the sale were not disclosed.
Source: CRC Group
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