US-based specialty insurer CRC Group has purchased ARC Excess & Surplus (ARC), a specialty wholesale insurance distributor, for an undisclosed sum.
ARC will integrate into CRC Specialty, retaining its existing leadership team.
Established in 1986 by Chris Cavallaro, ARC is a boutique management and professional liability wholesale broker.
The New York-based company expanded its services over the years to include property and casualty products.
It currently operates six offices across the US, including New York, California, Florida, Georgia, New Jersey, and Connecticut.
ARC’s network includes more than 250 carrier partners and serves over 2,000 retail brokers nationwide.
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By GlobalDataGenerating over $1bn in annual premium, ARC is said to bring “significant scale” to CRC.
ARC CEO Michael Cavallaro said: “CRC’s national scale, technology-driven platform, and commitment to excellence align perfectly with our vision for ARC.
“Together, we will be able to offer even greater value, broader market access, and innovative solutions to our clients while maintaining the high level of service they expect.”
The acquisition will bolster the merged business’ ExecPro practice group.
CRC Group CEO Dave Obenauer said: “This acquisition marks a major step forward as we continue to build CRC’s specialty capabilities.”
“ARC’s deep expertise in professional liability, strong retail and carrier relationships, and proven leadership will enhance our ability to deliver best-in-class solutions across the industry. We are excited to welcome Chris, Mike, and the entire ARC team to CRC Group and look forward to the immediate impact they will have in strengthening our ExecPro practice.”
The latest deal follows CRC Group’s purchase of SLB Insurance Group, focused on small-to-midmarket P&C, trucking and personal lines insurance, in December 2024.
