One80 Intermediaries Deepens Professional Lines Expertise With the Acquisition of California Based Prosurance Group

Business Wire

Headquartered in Mountain View, CA, ProSurance Group is a specialty managing general agent and program manager focused on professional liability and crime coverages for financial institutions.

BOSTON--(BUSINESS WIRE)--
One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, today announced that it has acquired ProSurance Group (PSG), a managing general agent and program manager which focuses on professional lines coverage. Marsh, Berry & Company was the exclusive financial adviser to ProSurance Group, terms of the deal were not disclosed.

Founded over 20 years ago, ProSurance Group specializes in underwriting and marketing professional lines insurance, while maintaining highly profitable programs with trusted carrier partners. The team provides coverage for clients throughout the financial services industry such as financial planners, investment advisors, insurance agents, security broker/dealers and their registered representatives. In addition to underwriting professional liability, PSG offers fidelity and crime coverages for commercial and financial accounts.

The firm markets through independent sub-producers and, in some cases, directly to its insureds. PSG’s offerings include advisory services, marketing, underwriting, and policy issuance.

“One80 continues to expand our professional lines footprint throughout the US and Canada. Our well-established professional lines team consists of specialist entities based in New Jersey, Ohio and Toronto. The acquisition of PSG provides a presence on the West Coast and extends One80’s expertise within the financial lines sector. I am thrilled to welcome the team at PSG to One80,” said Matthew F. Power, President of One80 Intermediaries.

“For more than 20 years our mission at PSG is to provide our clients with the protection required for the utmost financial health. Partnering with One80 will allow us to expand our offerings and areas of expertise, further deepening our client relationships,” said John V. Wagner, Managing Director at PSG, a division of One80 Intermediaries.

About One80 Intermediaries

One80 Intermediaries is a privately held firm with offices throughout the US and Canada. As a leading insurance wholesaler and program manager, the company offers placement services and binding authority for property & casualty, professional and personal lines, life insurance, and travel/accident and health coverages. One80 specializes in key industry verticals such as medical stop loss, cannabis captives, alternative risk, warranty coverage and lender-based insurance. One80 serves commercial companies, non-profits, public entities, individuals and associations and unions, and has access to all major insurance markets in the US, Canada and UK. One80 has offices in more than 40 locations in the US and Canada. For more information visit www.one80intermediaries.com