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Venbrook buys specialty MGA Alpharetta Underwriters

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Independent distributor Venbrook Group has struck a deal to acquire Alpharetta Underwriters, a specialty MGA focused on excess and surplus products for the construction industry.

Financial terms of the transaction were not disclosed.

With the transaction, Los Angeles-based Venbrook seeks to bolster its E&S portfolio, which includes MGA ComStar General Insurance Solutions, commercial real estate agency REAPA, and commercial transportation MGA Cardigan General

Headquartered in Alpharetta, Georgia, the MGA has over seven decades of experience in the construction risks sector. It is currently led by president and CEO Peter Bishop, who will join Venbrook operations.

“Peter and the Alpharetta team have established a truly exceptional franchise in just a few years,” said Jason Turner, Venbrook founder and CEO, in a statement.

“They have built an outstanding reputation in the E&S wholesale market as the underwriters of choice for complex and challenging construction and contractor's risks,” he said, adding that “hey provide responsive, creative, and effective risk solutions that are second to none in an increasingly complex and risky business environment.”

“We are impressed with the unique and growing platform that Venbrook has built around specialty underwriting programs as well as their retail, wholesale and claims service operations,” said Turner.

He added: “They are the perfect partners to help us take Alpharetta to the next level in this next phase of our growth.”

“We look forward to continuing to provide the targeted, high-quality insurance solutions and client-centric service that our insured clients and wholesale partners have come to appreciate and expect from us.”

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