Tangram swoops for reinsurance dealer

Tangram Insurance coverage Companies, one of many nation’s largest unbiased managing common companies and program managers, has introduced the acquisition of Most well-liked Reinsurance Intermediaries (Most well-liked Re), efficient Dec. 31. Phrases of the transaction weren’t disclosed.

The acquisition of Most well-liked Re, which is predicated in Columbia, S.C., marks Tangram’s enlargement into the reinsurance brokerage house.

Most well-liked Re was based in 1983. The agency is a reinsurance dealer and advisor that works with firms of all sizes. It has three fundamental apply areas: conventional reinsurance placements, specialty insurance coverage program improvement for MGAs and MGUs, and sourcing capability for different danger entities. The agency’s buying and selling companions embody home, Bermudian and European carriers, Tangram mentioned in a information launch.

Bob Sanders, president of Most well-liked Re, will proceed to steer reinsurance operations for Tangram. Sanders has greater than 50 years of insurance coverage trade expertise.

“I used to be uncertain how a change of possession would have an effect on our group after being collectively for over 40 years,” Sanders mentioned. “However from the start, the Tangram workforce appeared like household, and because of this we acquired many extra introductions and alternatives earlier than we even consummated the deal. We’re excited in regards to the subsequent chapter in working alongside this extremely educated {and professional} workforce.”

“This is a crucial and thrilling acquisition for Tangram,” mentioned Rekha Skantharaja, president and CEO of Tangram Insurance coverage Companies. “With the addition of the Most well-liked Re workforce, we now have important expertise and credibility within the reinsurance area. Most well-liked Re will assist the location of Tangram’s applications and proceed to companion with different unbiased program directors to construct and place specialty insurance coverage applications.”

Have one thing to say about this story? Tell us within the feedback under.