Broker BRP Group Inc. said on Friday that its Millennial Specialty Insurance LLC entity had acquired FounderShield LLC, AlphaRoot LLC, ReShield LLC and Scale Underwriting Services LLC, collectively known as Founder Shield, a New York-based insurance company. business.
The terms of the transaction, which are expected to be completed on August 1, 2021 or not, were not disclosed.
Founder Shield has an annual revenue of approximately $ 9.8 million and is BRP Group's seventh business in 2021, the statement said on Friday.
Founder Shield focuses on online purchasing and insurance management for high-growth companies. The company's approximately 50 colleagues will join BRP.
In a separate statement on Friday, BRP Group said it had acquired TCG Financial Holding Co. LLC, a Bethesda, Maryland-based brokerage for SMEs including government, technology and nonprofits.
The terms of the transaction, which is expected to be completed on or about August 1
The deal, during which more than 50 employees will join the BRP, "adds scale and density to the critical DC metro region," the BRP said in a statement.