ISC Acquires NNB to Further Complement Its Transportation Offering
February 25, 2022
California-based Integrated Specialty Coverages (“ISC”), a leading, multi-line program administrator that builds end-to-end insurance products utilizing advanced artificial intelligence (AI) engineering and data analytics, announced that it has acquired West Hartford, Connecticut and Medford, Oregon-based Northeast National Brokerage (“NNB”), an MGA specializing in excess liability coverage for the petroleum distribution and trucking industries.
Launched in 2010 as a wholesale brokerage, it was always the goal of NNB founder Jack Kramer to transition the company into an MGA, which effectively happened in 2014. Since then, NNB has continued to grow and is a recognized leader in the highly specialized petroleum distribution and trucking excess liability space, serving retail and wholesale brokers nationwide.
Tim Nickel, President of ISC, commented: “NNB is an ideal acquisition for ISC with its strong underwriting discipline and proven industry expertise. We see real opportunity to add value by applying ISC’s data science and engineering capabilities to NNB’s existing programs and those in the pipeline.” This acquisition further extends ISC’s transportation offering, providing broker partners with the ability to expand their own specialization.
Jack Kramer, CEO of Northeast National Brokerage, commented: “The sale to ISC was the next step in NNB’s continued growth and progression. With ISC’s capabilities, we’ll be able to further improve our products and the way they are delivered to our markets.”
Merger & Acquisition Services Inc. served as the sole financial advisor to Northeast National Brokerage
About Northeast National Brokerage
Northeast National Brokerage, LLC (NNB) is a Lloyd’s of London Cover holder and a managing general agent, with broad in-house underwriting authority, providing excess liability to the petroleum distribution industry and stand-alone automobile terrorism coverage for commercial fleets hauling virtually any type of product. NNB works with retail insurance agencies and wholesale brokers nationwide. NNB also accesses top-tier E&S markets to support and augment its proprietary London programs. Offices are in Medford, Oregon and Bloomfield, Connecticut.
About Merger & Acquisition Services, Inc.
Merger & Acquisition Services, Inc. is a specialist advisory and financial services Firm to the insurance and reinsurance industry, with offices in New York, Connecticut, Georgia & Cayman Islands. Founded in 1999, the Firm and its affiliates provides investment banking and insurance consulting services globally, including; merger & acquisition advisory capital raising, valuations, program placement/fronting, and reinsurance advisory. Merger & Acquisition Capital Services, LLC., a registered broker-dealer and member FINRA / SIPC, is an affiliate of Merger & Acquisition Services, Inc.
To learn more about Merger & Acquisition Services, visit https://maservices.com.