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CRC Group has acquired the managing general agent (MGA) and surplus lines broker Argenia in Little Rock, AR.
Terms of the transaction were not disclosed.
Argenia, founded in 1976, currently operates in more than 10 states. The company offers commercial lines and commercial inland marine products, as well as insurance for bonds, commercial auto, liquor liability, professional liability, garage, personal/commercial umbrella, and special events.
The MGA also offers online-based insurance programs for coverage such as earthquake, flood, builder’s risk, homeowners, dwelling fire, and more.
“Argenia has a unique business model and a number of exclusive products which we are excited to be able to distribute more broadly to our retail agency customers nationwide,” said CRC Group CEO Dave Obenauer.
Obenauer added that CRC Group will be “very deliberate and collaborative” as it works to integrate its operations with Argenia’s, ensuring that there is no service interruption for Argenia’s clients and carriers.
According to a release, the addition of Argenia compliments CRC Group’s abilities in Arkansas. It will continue to operate under its current brand, with the same underwriters and contact information, as CRC Group slowly integrates its operations in the coming months.
“Joining CRC Group will allow us to expand our product offerings as well as provide additional tools and improved services to our clients. The Argenia team is looking forward to the expanded opportunities this transaction will bring,” commented Argenia president Bob Alexander.
