Specialty Program Group Establishes New Wholesale Insurance Division
Specialty Program Group Establishes New Wholesale Insurance Division
Program Brokerage Corporation (PBC) and Specialty Program Group LLC (SPG) have announced that PBC will spin off its general wholesale, environmental, construction, cyber, and professional liability divisions to SPG, which will conduct business under the name Specialty Wholesale Insurance Solutions (SWIS).
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SWIS will be incorporated into Specialty Program Group LLC as a division.
With over $2 billion in wholesale/MGA premiums, 19 operating companies and divisions, over 750 employees, and locations in 24 states throughout the nation, SPG is the seventh-largest specialty intermediary.
At the same time, PBC is a nationally ranked top wholesaler and powerful market resource for brokers and agents, as well as an innovative partner for carriers. As part of the transition of PBC’s general wholesale business to SPG, the wholesale leadership and management teams of PBC will join SWIS.
Specialty Program Group Establishes New Wholesale Insurance Division
Meanwhile, PBC’s Program division will remain an independent subsidiary of Hub International Group Northeast Inc. and will continue to offer insurance solutions to residential co-ops, condominiums, and rental buildings, as well as the pest control industry.
“The transition to SPG from HUB will enable us to accelerate our growth strategy and expand our footprint across the country,” said SWIS President Cynthia O’Brien.
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“This move within HUB also enables us to provide a seamless experience for our clients and ensures the continuation of a high level of service and support from a team they know and trust.”
SPG President & CEO, Chris Treanor, added: “The SWIS team has built one of the nation’s premier wholesale businesses and has a strong reputation for expertise and service in the industry. We’re fortunate to have such top-level talent join SPG and we see tremendous growth opportunity within the SWIS specialty areas.”
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