San Francisco, CA – January 18th, 2023
Socius Insurance Services, Inc. (“Socius”), a leading provider of wholesale insurance solutions, with a specialized focus on management, professional and cyber liability insurance and property/casualty insurance, today announced it has acquired the assets of Kelly Underwriting Services, LLC (“Kelly”), a New York based managing general underwriter (MGU). Terms of the transaction were not disclosed.
Led by Tom Nash, Kelly provides expert underwriting for professional liability risks and currently manages four insurance product programs. Kelly will operate its dedicated underwriting platform independently of Socius. Kelly’s deep wholesale relationships within the insurance industry will enable the Kelly team to expand its product offerings both organically and by strategic acquisitions. Socius will provide additional corporate leadership and operational infrastructure to accelerate Kelly’s growth.
“We are extremely excited to partner with a dedicated underwriting platform with a strong culture and solid performance. This provides us with an excellent foundation for our continued buildout of a dedicated underwriting capability,” said Patrick Hanley, President & CEO of Socius. “We continue to be focused on augmenting our strong organic growth with strategic transactions in both the wholesale and MGA arena and are well positioned to support and accelerate the growth of similar collaborative models,” said Chris McKechnie, EVP of Socius. Tom Nash, the President of Kelly said, “Socius is an exceptional partner with a great culture, widely respected reputation and resources for us to further grow our MGU business.”
About Socius Insurance Services, Inc.
Socius Insurance Services, Inc. is one of the 10 largest wholesale insurance brokers in the U.S. Founded in 1997 and headquartered in San Francisco, with regional offices across the U.S., Socius specializes in placing Management Liability, E&O, Cyber Liability, Financial Institutions, Property & Casualty and Umbrella coverages. Its more than 100 employees have voted it the Best Places to Work in the insurance industry for the past several years in a row. Socius is privately held, with financial backing by Abry Partners based in Boston, MA. Please see www.sociusinsurance.com for additional information.
About Kelly Underwriting Services, LLC.
Kelly Underwriting Services, LLC is a leader in outsourced underwriting for professional liability related risks. With over 20 years of underwriting expertise, Kelly’s current products include:
Based in Farmingdale, NY Kelly has nationwide distribution and underwrites in all 50 states and the District of Columbia. For more information visit, www.kellyunderwriting.com.
Contact: Hayley Phillips