Constellation Affiliated Partners, a N.Y.-based insurance consolidator platform that specializes in acquiring U.S. and Canadian managing general agencies, program administrators and wholesale companies, announced the acquisition of INSUREtrust Thursday, without disclosing financial terms.
INSUREtrust, a specialty wholesale broker and MGA headquartered in Atlanta, Ga., is a well-known distributor of cyber liability, technology errors & omissions, and miscellaneous professional liability coverages, with its founding—by Steve Haase—dating back to 1997.
In conjunction with the acquisition announcement, INSUREtrust announced that Haase is retiring and that Christiaan Durdaller will take over the roles of president and chief executive officer of INSUREtrust. Durdaller will continue to oversee the strategy, company’s products, partnership and production.
Constellation is backed by RedBird Capital Partners, a private investment firm focused on building high-growth companies with flexible, long-term capital.
Marsh Berry & Co was exclusive advisor to the seller.
Source: Constellation Affiliated Partners