Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has completed the acquisition of Commercial Sector Insurance Brokers, LLC (CSIB), a prominent Excess & Surplus (E&S) wholesale broker headquartered in Birmingham, Alabama. Led by Bob Bleistine and boasting a management team with over 50 years of collective industry experience, CSIB is recognized for its proficiency in contract binding, serving the mining sector, and handling coastal property placements.
This strategic acquisition aims to bolster Monarch E&S’s service offerings, enhancing their ability to deliver comprehensive coverage solutions and solidifying their market presence. The collaboration between the two entities will be geared towards tailoring insurance products specifically designed to meet the unique needs of industries such as mining, thereby striving to surpass client expectations consistently.
In addition to acquiring CSIB’s specialized knowledge base, Monarch E&S will also integrate CSIB’s contract binding division, which caters to a diverse range of risks including contractors, lessors’ risk, and hospitality sectors.
Derek Borisoff, CEO of Monarch E&S, emphasized the significance of this acquisition, stating, “CSIB has built a strong reputation within our industry and brings a depth of specialization that complements Monarch’s current offerings. Integrating CSIB enhances our capabilities and positions us to provide a more robust contract binding solution nationwide. We are eager to expand our service portfolio to include CSIB’s expertise in the mining sector.”
Bob Bleistine, President of CSIB, echoed Borisoff’s sentiments, expressing enthusiasm about the merger with Monarch E&S. “Joining Monarch E&S represents a transformative opportunity for us. It allows us to leverage Monarch’s extensive resources while maintaining the high-level, specialized service our clients rely on. We look forward to contributing to Monarch’s dynamic environment and continuing to grow within it.”
This acquisition marks a strategic step forward for Monarch E&S, underscoring their commitment to enhancing service offerings and expanding their market reach in the insurance industry.
