CRC continues binding push with Griffin deal
US wholesaler CRC Group has hired the team and purchased the renewal rights for Houston, Texas-based MGA Griffin General Agency as it continues to build out its binding platform through M&A, The Insurer can reveal.
The MGA’s operations include commercial P&C binding and personal lines, with an office in Houston, Texas.
According to its website, the firm specialises in homeowners, dwelling fire, and mobile/manufactured homes, as well as commercial products ranging from general liability to long-haul trucking.
Confirming the transaction, CRC Group CEO Dave Obenauer said: “Griffin General Agency has a long history of success in personal and small commercial lines in the Houston market.
“We are excited to welcome the Griffin team to CRC Group, and we are confident this combination will bring significant benefits to our retail agency customers across South Texas.”
Griffin General Agency president John Griffin said the move would give the MGA access to additional markets and products, which would be critical to its agents in the current, “more challenging”, market.
“Our team is also excited to access CRC Group’s REDY platform, which will allow us to be more efficient and targeted in our placements for binding and personal lines,” he added.
As previously reported, CRC Group has been investing in its binding business with 2020 acquisitions including California-based W Brown & Associates and Louisiana-based Specialty Risk Associates.
The firm has also added more than 85 new producers and opened several new binding offices over the last two years. A significant proportion of the added producers came from smaller rival Burns & Wilcox.
CRC Group’s binding operations are led by West McAdams as president. He reports to Mike Brennan, who has taken over as CEO of CRC Commercial Solutions, the unit that houses the firm’s brokerage and binding operations.
CRC has nearly $10bn in annual written premium, 88 office locations, and more than 800 brokers and underwriters.
Last September it consolidated its brokerage and binding operations under the CRC brand and stopped using the SCU name.
Other recent acquisitions by CRC Group include MGUs Federal Employee Defense Services and Continental Underwriters, while parent Truist Insurance Holdings also bought personal lines cat specialist MGA Wellington.