Monarch E&S attends Professional Underwriters

Monarch E&S Insurance Services, part of Specialty Program Group, has acquired Texas-based liability and sales firm Professional Insurance Executives (PIE) for an undisclosed sum.

Founded in 2009 by Bruce Hart, a seasoned professional with over forty years in the industry, PIE is widely respected for its strong underwriting skills, commitment to innovation, and customer-focused service.

“Bringing PIE into the Monarch family enriches our portfolio with quality writing and expands our relationships in key markets,” said Derek Borisoff (pictured), chief executive officer of Monarch E&S. “Bruce's experience and leadership will be invaluable as we continue to strive to be the preeminent leader in the contracting industry.”

For Hart, joining Monarch E&S presents a “tremendous opportunity” for PIE, allowing the traditional managing agency to leverage the team's extensive resources and market access.

“This expansion will improve our service delivery and allow us to provide comprehensive solutions to our customers,” he said.

“CSIB has built a strong reputation in our industry and brings deep expertise that complements Monarch's current offerings,” Borisoff commented in July. “Integrating CSIB will enhance our capabilities and enable us to offer a comprehensive contracting solution across the country.

“We are enthusiastic about the potential to expand our services to include CSIB's expertise in the mining sector.”

In relation to the Commonwealth Underwriters swoop earlier this year, the CEO cited the company's expertise in securing insurance for hard-to-place risks not covered by the mainstream market.

“[Barry and Julia Scott’s] reputation for both merchant customers and binding markets is fully in line with Monarch E&S's operating philosophy,” Borisoff previously commented. “We look forward to working with Barry's team to make the organization as a whole even better.”

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