SPG’s Monarch E&S acquires Market Finders
By David Bull
June 5 - (The Insurer) - Monarch E&S Insurance Services has acquired MGA and wholesale broker Market Finders, with the addition of the Albuquerque, New Mexico-based firm expanding its reach across the Southwest.
In a statement confirming the deal, Specialty Program Group’s Monarch E&S said Market Finders has a long-standing reputation as the “go-to” MGA in New Mexico.
It has access to more than 30 markets and specialises in both personal and commercial lines, including transportation risks. The company is led by president Steve Shaffer and has built a strong network of retail agents, said the statement.
Commenting on the acquisition, Monarch E&S CEO Derek Borisoff said: “Market Finders has been a pillar in the MGA community for over five decades, and we're proud to welcome them to the Monarch family.
“Their underwriting expertise, deep carrier relationships, and strong presence in the Southwest align perfectly with our commitment to delivering market-leading solutions with local insight. Together, we'll unlock new growth opportunities while maintaining the high level of service our brokers and carriers expect.”
Shaffer said that Monarch “truly understands” the independent MGA model, while its scale and resources will allow his firm to offer its agents more solutions without losing its local service model.
Market Founders was founded in 1971.
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