2022 JUL 22 (NewsRx) — By a News Reporter – Staff News Editor at News Mergers & Acquisitions — LLC Specialty Programs Group (SPG), a leading specialist insurance brokerage and underwriting center operator, announced the acquisition of ESP Insurance Brokerage LLC (ESP), a national insurance broker and program administrator for the sports, events and promotion, marketing and entertainment industries.
Based at Worcester (Massachusetts), ESP offers nationwide coverage and offers exclusive programs with an in-house underwriting and liaison authority and A+ rated carriers. Niche solutions include sports insurance for teams/leagues, camps and tournaments, insurance for entertainment, leisure and sports facilities, event liability and cancellation, prize indemnity, weather insurance, liquor liability and special event liability.
ESP was established over five years ago and has steadily grown in the sports and entertainment market. In 2021, more than 850,000 young participants were covered by ESP and the company had more than $1.5 billion within the insured limits covering special events of all types.
“ESP is poised to become one of the premier coverage providers for the sports and entertainment industry,” said SPG President and CEO, Christopher Treanor. “They complement our portfolio of specialist businesses well and fit our model of acquiring businesses with niche expertise and a focus on customer service, including offering online services that make it faster and easier to obtain of insurance coverage.”
“We have simply stated that we are here to create a winner for SPG. The team at ESP is beyond excited to join SPG and continue to evolve our product offerings, service team and technology capabilities for customers. customers. We were not looking to be acquired but by talking with Christopher Treanor and the SPG team, they had a vision and a plan for the operation that kept us from not being part of the family in the future. said Chris PricePresident of ESP Insurance Brokerage and SHEL Risk Purchasing Group.
(Our reports provide factual information on research and discoveries from around the world.)