Socius Insurance Services Inc., a wholesale insurance services company with a focus on management, professional and cyber liability insurance and property and casualty insurance and backed by Abry Partners, has purchased Kelly Underwriting Services LLC, a New York-based managing general underwriter (MGU).
Led by Tom Nash, Kelly offers underwriting for professional liability risks and currently manages four insurance product programs. Kelly will operate its underwriting platform independently of Socius. Kelly’s wholesale relationships within the insurance industry look to allow the Kelly team to expand its product offerings both organically and by strategic acquisitions. Socius will provide additional corporate leadership and operational infrastructure to drive Kelly’s growth.
“This provides us with an excellent foundation for our continued buildout of a dedicated underwriting capability,” says 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,