US-based specialty insurance broker One80 Intermediaries has snapped up Agentic Insurance, a wholesale broker focusing on financial lines coverage.
The companies did not reveal the value of the deal.
Agentic offers consultative brokerage services for professional lines products. These cover Management Liability, Cyber Liability, Media Liability, Allied Healthcare and Environmental, Errors and Omissions.
The acquisition of the Pennsylvania-based company is said to provide more than 40 years of experience in the fields of business and insurance.
One80 president Matthew F Power said: “One80 is committed to the financial lines space and to that end, we have now acquired five highly specialised, financial lines specialty firms throughout the United States.
“I have been very impressed with Agentic’s level of expertise and consultative approach to wholesale brokering.”
One80 managing director and RPLU Michael C Peck said: “The One80 network will provide us with additional marketing, operations, and technology related resources, allowing our team to focus on our clients, and continue to enhance our financial lines capabilities.”
With offices spread across the US and Canada, One80 offers placement services and binding authority for property and casualty, professional and personal lines, life insurance as well as health coverages.
The company also specialises in medical stop loss, cannabis captives, alternative risk, warranty coverage and lender-based insurance.
Last month, One80 acquired SelmanCo, a third-party administrator and broker headquartered in Ohio, US.