May 24, 2021 Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation, announced today that it has signed a definitive agreement with RedBird Capital Partners to acquire Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers. Constellation's partners use a set of core values to evaluate and pursue strategic partnerships with companies that have demonstrated superior underwriting principles and have earned a solid industry reputation. The Constellation Affiliated Partners businesses will be combined into Truist Insurance Holdings CRC Group, a national wholesale distributor of specialty insurance products. Join the conversation. Mergers & Acquisitions Find company research, competitor information, contact details & financial data for REPRESENT HOLDINGS LLC of HELSINKI, Uusimaa. CRC Groups new Specialty Programs Division now places more than $2.4B in premium across more than ten industry and specialty segments. All Rights Reserved. All content copyright Steve Evans Ltd. 2021 All rights reserved. Get the latest business insights from Dun & Bradstreet. Over the past six months, shares of Truist Financial have rallied 26.2%, underperforming the industrys 38.8% rally. from 8 AM - 9 PM ET. if the company chooses to hide the private information on their profile from the general public. Evercore served as financial advisor, and Fried, Frank, Harris, Shriver & Jacobson served as legal counsel to Constellation Affiliated Partners. 07337195 In order to further strengthen its insurance business, Truist Insurance Holdings, a subsidiary of Truist Financial Corporation TFC, has announced a deal with RedBird Capital Partners to acquire the insurance distribution platform Constellation Affiliated Partners. In April 1997, INSUREtrust was an industry leader in successfully developing, underwriting, and marketing an insurance policy covering the new commercial risks generated through the use of the Internet such as privacy and security breaches. Mr. Maskill will have an increased role in the management of business operations while continuing his brokerage work and overseeing claims response & MGA products. Constellation Affiliated Partners is a New York-based insurance consolidator platform that specializes in acquiring MGA, program administrator and wholesale companies in the United States and Canada. Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. Constellation was recognized for the most comprehensive, innovative and strategic vision for the industry along with outstanding customer service reputation. The biggest transaction so far is a deal to take a significant stake in Atlanta-based Allstar Financial, which includes a number of program administrators and MGAs in its stable, including Prime Specialty and Venture Underwriters. Additionally, Nicholas Bozzo from CRC Programs and Brian Norman from Constellation have been appointed co-presidents of the Specialty Programs Division. Although its acquisitions so far are understood to have focused on North America, it has also shown an appetite for potential deals in the UK. By signing up you agree to receive content from us. become a partner. RBC Capital Markets and Truist Securities served as financial advisors, and Willkie Farr & Gallagher served as legal counsel to Truist in this transaction. served to you completely ad free and you will be granted access to view every profile in its entirety, even
Constellation Affiliated Partners is an insurance distribution platform operating seven managing general agents (MGAs) and program managers. Evercore served as financial advisor, and Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Constellation Affiliated Partners in this transaction. It was formed by RedBird Capital Partners in 2019 and has grown through a series of acquisitions. We offer turnkey access to commission earnings, pending receivables, and customer information. Constellation was named by The Energy Professionals Association (TEPA) as the 2022-2023 Supplier of the Year for excellence in competitive retail electricity and natural gas markets. if we've collected "Sales Lead Information" for a given company, it will be displayed on the
The transaction, first announced in May, will add approximately $160 million of annual revenue to Truist Insurance Holdings wholesale division. CONSTELLATION AFFILIATED PARTNERS LLC in Wilmington, DE | Company Info Company Information Sponsored Links Company Contacts This company has not listed any contacts yet. For the past 22 years, INSUREtrust has continued to be a leading cyber liability insurance company. Mr. Durdaller will continue to oversee the strategy, companys products, partnership and production. Filing history for CONSTELLATION GROUP LIMITED (11626878) People for CONSTELLATION GROUP LIMITED (11626878) More for CONSTELLATION GROUP LIMITED (11626878) Registered office address 1 Berkeley Square, Bristol, England, BS8 1HL . Constellation has an overall rating of 3.8 out of 5, based on over 539 reviews left anonymously by employees. Constellation Affiliated Partners was formed by RedBird Capital Partners in 2019 and has grown rapidly through a series of strategic acquisitions. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. He further added, We have a shared commitment to accelerating our investment in data and analytics, and look forward to continuing to grow our business, both organically and through further acquisitions, Per Kelly S. King, chairman and CEO of Truist Financial, "This acquisition enables us to continue diversifying our revenue and provide expansive insurance solutions to our clientswhile ultimately helping us fulfill our purpose to build better lives and communities.".
Our customer portal is a convenient way to access accounts remotely 24/7 to view transactions, check balances, make payments, and more. Filings. Cision Distribution 888-776-0942 Although Constellation has been executing its M&A strategy largely under the radar, sources said that the completed deals represent $900mn+ of premium volume and an estimated $35mn+ of Ebitda. 65% of employees would recommend working at Constellation to a friend and 68% have a positive outlook for the business. There has been talk of multiples being affected by uncertainty around the Covid-19 impact on businesses and potential sellers that focus on directly hit segments such as hospitality will have either significantly recalibrated or taken themselves off the table. Constellation Affiliated Partners LLC - Most recent fund raising on April 23, 2020 raised $37,675,000 in Equity. "Expanding our insurance business remains a key priority for Truist as we continually look for ways to enhance our offerings and introduce new clients to Truist," said Kelly S. King, Chairman and CEO of Truist Financial Corporation. In fact, in 2020, the company closed five insurance broker deals, which are likely to add roughly $110 million of combined annual revenues. RedBird invests with an entrepreneurial, company-building mentality, with an emphasis on capital appreciation and compounding equity returns over longer holding periods. 2023 Constellation. Disclosed limited partners included Los Angeles County Employees Retirement Association.
At the time it was reported that the company wrote and placed premium volume in excess of $550mn, with revenues of around $165mn. These symbols will be available throughout the site during your session. This new partnership with Constellation Affiliated Partners will provide us with the opportunity to broaden our technology enabled solutions, continue to develop our risk management platform and propel us to new heights, said Christiaan Durdaller. Financial terms were not disclosed. According to sources, Constellation will look to build off its initial acquisitions to add verticals into property, professional liability and other areas as it continues its M&A strategy. Additionally, Nicholas Bozzo from CRC Programs and Brian Norman from Constellation Affiliated Partners have been appointed Co-Presidents of the Companys Specialty Programs Division. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "opportunity," "plans," "projects," "could," "may," "should," "will" or other similar words or expressions are intended to identify these forward-looking statements. ADDITIONAL LINKS Post Question For This Company
Constellation Affiliated Partners will be combined into Truist Insurance Holdings' CRC Group, a leading national wholesale distributor of specialty insurance products.
Marsh Berry & Co was exclusive advisor to the seller. Create your Watchlist to save your favorite quotes on Nasdaq.com. Discover the possibilities. Truist Insurance Holdings furthers growth through acquisition of Constellation Affiliated Partners, click here to learn more. Technology, independence and distribution were the focal points for us in our search for the right partner, all of which are achieved through Constellations platform and we couldnt be more excited to become a part of it.. This site is protected by reCAPTCHA and the Google. Constellation Affiliated Partners
Instead the main changes appear to be around structure of deals and the way consideration is paid, with a much greater weighting to the earn-out phase than upfront payment. Please tell us what we can do to improve this article. Click here to download the Combined Company Highlights. The Insurer revealed last October that Allstar Financial was working with boutique investment banking advisory firm Evercore over a potential sale. Constellation Affiliated Partners. CRC Group's new Specialty Programs Division now places more than $2.4B in premium across more than ten industry and specialty segments. Financial terms of this agreement were not disclosed. The seven MGAs that are part of Constellation are Allstar Financial Group,. Find company research, competitor information, contact details & financial data for Mirabel Partners Oy of HELSINKI, Uusimaa. constellation affiliated partners llc constellation affiliated partners constellation affiliated partn Constellation Affiliated Partners CEO William Goldstein Chief Executive Officer Phone Email Erin Burns has been promoted to Head of Brokerage, overseeing brokerage operations. Constellation Affiliated Partners is a New York-based insurance consolidator platform that specializes in acquiring MGA, program administrator and wholesale companies in the United States and. Zacks->. The deal will likely add roughly $160 million of annual revenues to the wholesale division of Truist Insurance Holdings. Constellation Affiliated Partners (Constellation) has acquired INSUREtrust, a specialty wholesale broker and MGA headquartered in Atlanta, Ga. Financial terms of the transaction were not disclosed . The transaction will add approximately $160 million of annual revenue to Truist Insurance Holdings' wholesale division. Company status Active Company type Private limited Company . Constellation Affiliated Partners was formed by RedBird Capital Partners in 2019 and has grown rapidly through a series of strategic acquisitions. CRC Group has closed on the acquisition of Constellation Affiliated Partners, more than doubling the size of its Specialty Programs Division and creates one of the largest program managers in North America. The Constellation Executive Committee is made up of experienced senior leaders who set the strategy and direction for our company. Constellation Affiliated Partners LLC (CAP), a subsidiary of CRC Insurance Services, Inc., is one of the largest program management operations in North America. Constellation Affiliated Partners is an insurance distribution platform operating seven managing general agents (MGAs) and program managers. With the Bizapedia Pro Search service you will get unlimited searches via our various search forms,
Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services; Crump Life Insurance Services; AmRisc; and its premium finance companies (AFCO Credit Corp., Prime Rate Premium Finance Corp., and CAFO). CRC Insurance Services Inc., part of Truist Insurance Holdings Inc., a subsidiary of Truist Financial Corp., said Tuesday it has named former Constellation Affiliated Partners CEO Bill. To read this article on Zacks.com click here. Newest; Filter; Local; Constellation Affiliated Partners LLC. The company writes a diverse set of insurance lines, including contractors general liability, commercial transportation, specialty, and professional liability. In the distribution space, investors led by private equity continue to be drawn to the appeal of brokers, MGAs and program administrators as cash businesses that generate fee and commission-based income, leading to a record volume of deals. Zacks Equity Research for INSUREtrust is also pleased to announce promotions within its management team. Affiliate : Jurisdiction of Formation: A/C Fuels Company : PA: A/C Power : MD: AgriWind LLC : IL: AgriWind Project L.L.C. Goldstein added: We see the combined programs platform as a growth engine for the future. Constellation is backed by RedBird Capital Partners, a private investment firm focused on building high-growth companies with flexible, long-term capital. Constellation Affiliated Partners Llc is a corporation in New York, New York. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Get the latest business insights from Dun & Bradstreet. INSUREtrust, located in the Atlanta metro area, is a national insurance wholesaler that seeks to simplify insurance. RedBird Capital Partners is a private investment firm focused on building high-growth companies with flexible, long-term capital in partnership with its Entrepreneur & Family Office Network. Financial terms of the deal have not been disclosed yet. Sign up to receive updates on the latest energy market trends. Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. CRC Group announced today that it has signed a definitive agreement with RedBird Capital Partners to acquire Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers. Constellation Affiliated Partners was formed by RedBird Capital Partners in 2019 and has grown rapidly through a series of strategic acquisitions. This field is for validation purposes and should be left unchanged. They can also build value by offering more efficient tech and operating platforms that acquisitions can plug into, as well as providing economies of scale, larger geographic footprints and cross-sell opportunities. If you are in need of enterprise level search, please consider signing up for a Bizapedia Pro Search account as described on this page. The world of risk is getting more complex, and both our customers and capital partners are seeking specialists to underwrite and distribute insurance solutions, said Dave Obenauer, CEO of CRC Group. We look forward to integrating them into the current portfolio of companies and product offerings.. 2023 Weatherford Capital Management, LLC All Rights Reserved. "This acquisition enables us to continue diversifying our revenue and provide expansive insurance solutions to our clientswhile ultimately helping us fulfill our purpose to build better lives and communities. Type a symbol or company name. At Constellation we strive to engage with companies that fall within our guiding principles of innovation, technology, and product excellence. Truist Insurance Holdings operates more than 240 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services; Crump Life Insurance Services; AmRisc; and its premium finance companies (AFCO Credit Corp., Prime Rate Premium Finance Corp., and CAFO). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Nexus Underwriting has announced the completion of its acquisition of , Global non-life specialty insurer R&Q Insurance Holdings Ltd, has announced , Managing General Agent NBS Underwriting has announced the acquisition of . As the largest clean energy generator in the country, we have a broad perspective on industry trends and direct access to deliver innovative energy solutions that help customers meet their sustainability needs. Contact our Channel Partner team to learn more about becoming a Constellation channel partner. We have the reach and expertise to serve customers across multiple regions and commodities. Constellation was named by The Energy Professionals Association (TEPA) as the 2022-2023 Supplier of the Yearfor excellence in competitive retail electricity and natural gas markets. The seven MGAs that are part of Constellation are Allstar Financial Group, Norman Spencer, American Team Managers Insurance Services, RMA, Trinity Transportation Solutions, Coastal Insurance Underwriters and InsureTrust. The addition of Constellation Affiliated Partners more than doubles the size of the premium placement of CRC Groups Specialty Programs Division and creates one of the largest program managers in North America. As the nations leading competitive energy provider and a supplier of retail and wholesale power, natural gas, and energy products and services, we are uniquely positioned to offer customers innovative solutions to meet a broad range of energy needs.
Further, earlier this month, Glacier Bancorp, Inc. GBCI announced a definitive agreement to acquire American Fork, UT-based Altabancorp ALTA for $933.5million. Constellation Affiliated Partners LLC Funding details Constellation Affiliated Partners LLC Industry: Insurance CIK Number: 0001809658 IRS Number: 834286921 Address: 667 MADISON AVENUE 16TH FLOOR NEW YORK 10065 Phone number: 212-235-1000 Latest news Constellation Affiliated Partners LLC raised $37,675,000 from 7 investors on 2020-04-23. RedBirds network of business founders and entrepreneurs is central to its investment sourcing strategy, and its highly curated group of limited partners are active co-investors who provide scalable capital support. Goldstein has experience of a series of acquisitions in the US and London in his previous role at Integro, which was a New York-based broker with operations on both sides of the Atlantic before it was broken up and sold largely to EPIC Holdings in a deal announced late last year. Constellation Affiliated Partners is a New York-based insurance consolidator platform that specializes in acquiring MGA, program administrator and wholesale companies in the United States and.
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Questions Post Question There are no questions yet for this company. We will be bringing new programs and products to market, expanding capacity relationships, and continuing our focus on and commitment to data, analytics, and technology. CRC Groups new Specialty Programs Division now places more than $2.4 billion in premium across more than 10 industry and specialty segments. Some call it the Internet of Money and predict it could change the way money works forever. "We're excited to welcome Constellation Affiliated Partners clients to Truist, and have their team join our organization. RedBird has also had a long-term affiliation with Canadian pension fund Ontario Teachers. This publication reported last year that Goldstein would look for a first acquisition then use that as a platform to consolidate in the sector. Constellation is understood to have a flexible approach to the ownership structure in deals which can see it take full or partial stakes in intermediaries. For more information, please go to www.redbirdcap.com. Constellation Affiliated Partners was formed by RedBird Capital Partners in 2019 and has grown rapidly through a series of strategic acquisitions. ", "The Constellation Affiliated Partners transaction is a key acquisition that will further build out our national programs business," said John Howard, Chairman and CEO of Truist Insurance Holdings. Its four core specialty markets, including contractors' general liability, transportation, condominium/homeowners associations, and professional liability are examples of these expanded capabilities. Bill Goldstein-led consolidator platform Constellation Affiliated Partners has already completed a number of acquisitions including a buy-in to MGA and wholesale broking platform Allstar Financial, The Insurer can reveal. , . Or find and follow Reinsurance News on social media. Constellation is understood to have a flexible approach to the ownership structure in deals which can see it take full or partial stakes in intermediaries. Thank you! Website Privacy & Cookies and Disclaimer. No P/C Underwriting Profit Until 2024: S&P, Florida Rule Change Seen as Win for Med Mal Insurers, Truist Acquires Constellation Affiliated Partners Wholesaler Platform With 7 MGAs, Specialty MGA UK Approved as Lloyd's Coverholder, Why the Investor-Driven Hard Reinsurance Market Will Persist in 2024, Workers' Compensation Undercuts Employer Liability Exclusion, U.S. Appeals Court Rules, Canada's Wildfires Burn Record 25 Million Acres With No End in Sight, Compliance Specialist Rate Filing REMOTE -, Underwriting Operations Support Carrier REMOTE -, Commercial Lines Account Manager or Customer Service Rep (CSR) Insurance REMOTE -, Property & Casualty Claims Adjuster Carrier or TPA REMOTE -, Brokers Must Get Creative As Construction Market Grows Amid Project Delays, Labor Shortage, Higher Costs, Why Schools Must Reset and Reboot When it Comes to Insurance, Challenges, Opportunities for Brokers in the Music Events Space, Risks on Stage: New World, New Life in Entertainment Business, 8th Circuit: Failure to Cooperate Doomed Church's Storm Damage Claim, People Rescued from Cars and Homes as Rapid Rainfall Causes Flash Flooding in Central Mississippi, Vermont Braces for More Rain in Wake of Historic Flooding, A Florida Sinkhole that Claimed a Man's Life in 2013 Reopens, this Time Harmlessly, Record Monsoon Rains Have Killed More than 100 People in Northern India over Two Weeks, Challenges in New and Old Multi-Unit Housing, Mitigating the Risks of A Tight Labor Market Using Effective WC Practices, No One Said it Would be Easy.