US-based One80 Intermediaries has acquired wholesale insurance brokerage and programme manager International Excess Program Managers (IEPM).
The financial terms of the acquisition were not disclosed.
Founded in 1988, IEPM offers access to a full range of insurance products. It specialises in property, liability, inland marine, errors and omissions, directors and officers, commercial auto and umbrella coverage.
The firm, headquartered in Ohio, has footprints in all the 50 states of the US.
One80 Intermediaries president Matthew Power said: “At One80 Intermediaries it is our mission to maintain a deep understanding of the rapidly changing and complex insurance market, and respond with highly specialized offerings and expertise.
“Expanding our business to include IEPM capabilities further strengthens our value proposition by providing additional customized insurance products to clients throughout the industry.”
Besides wholesale access, IEPM provides tailored multi-state insurance programmes for specialty industries, associations and groups of policy holders.
The services include underwriting, rating structures, policy issuance, and regulatory compliance.
International Excess Program Managers CEO Marc Pender said: “We are very attracted to the entrepreneurial culture at One80 Intermediaries and feel it will provide our business with additional avenues thrive.
“I was impressed with One80’s market leading talent, operating model and industry relationships – joining One80 will provide us with an extended platform to both expand our existing solutions, and identify additional opportunities in the market to create new, highly customized insurance programs.”
One80 Intermediaries provides placement services and binding authority for property and casualty, financial lines, personal lines, and medical stop loss risks to companies, non-profits, public entities and individuals.
It has access to all major insurance markets in the US and UK.