Insurica, one of the largest U.S. brokerages, announced it has acquired Florida-based First Light Program Managers, a wholesale brokerage and delegated underwriter specializing in trucking and marine coverage.
The acquisition, effective this month, is the largest in the 67-year history of the Oklahoma-based Insurica, the company said in a news release. The move capitalizes on a trend in the industry, with net written premiums by managing general underwriters increasing 40% in the last year, Insurica noted.
Insurica leaders said they believe the trend toward delegated underwriting and program structures in difficult-to-place classes of business will continue. Insurica offers placements in commercial and personal lines, as well as benefits and workers’ compensation.
First Light was founded by the late Anthony Johnson in 2007. With headquarters in Fort Lauderdale, First Light sees the merger as positioning the firm for continued growth in coming years, said First Light CEO Janet Fender.
Topics Mergers & Acquisitions Florida
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