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Specialty Program Group Acquires Marine and Crane Insurance Businesses from Norman-Spencer Agency
Monday 16 April 2018

16 April 2018 - US-based insurance holding company for specialty brokerages and underwriting facilities Specialty Program Group, LLC has acquired the assets of Norman-Spencer Agency's crane programme, personal lines watercraft program and commercial lines recreational marine program divisions, the company said.

Terms of the acquisition were not disclosed.

With offices across the country, NSA's personal lines watercraft program and commercial lines recreational marine program divisions focus on providing solutions for personal and commercial recreational marine risks including personal watercraft, yachts, marinas, boat dealers, yacht brokers, boat repair businesses, and yacht clubs.

NSA's specialised crane and boom underwriting facilities are recognized industry leaders and are based in Eastern Pennsylvania.

Headquartered in Summit, New Jersey, SPG focuses on expanding program underwriting and specialty businesses.

Headquartered in Dayton, Ohio, NSA has proprietary underwriting programmes serving the construction, transportation, professional liability industries, as well as service offerings.
Details
Date Published: 16/04/2018
Target: Norman-Spencer Agency/crane programme, personal lines watercraft program and commercial lines recreational marine program divisions
Country: USA
Sector: Norman-Spencer Agency´s
Type: Corporate acquisition
Financing:
Status: Closed
Vendor: Norman-Spencer Agency
Buyer: Specialty Program Group
Comment:
Terms of the deal were not disclosed

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