Insurance consolidator Constellation Affiliated Partners has bought Coastal Insurance Underwriters and Cybercom.
The acquisition allows Constellation to expand its product offerings to the condominium and homeowner’s association markets. “These new business classes complement many of our existing programs and will provide increased product access to our clients,” says Constellation CEO Bill Goldstein. “The Coastal and Cybercom team bring a wealth of knowledge and innovative web-based programs. Their proprietary technology platform and deeply experienced underwriters will be a great addition to our growing portfolio of innovative, high-quality MGAs, program administrators, and wholesalers in the insurance industry.”
Software company Cybercom was previously a subsidiary of insurance underwriters Coastal, providing technology development services to clients, including Coastal.