CRC Group acquires ARC Excess & Surplus, expanding its professional liability coverage

CRC Group, a wholesale specialty insurance distributor in North America, has acquired ARC Excess & Surplus, LLC (ARC), one of the country’s largest specialty wholesale insurance distributors, adding significant scale and capabilities to its growing platform.

ARC has over $1 billion in annual premium and the acquisition meaningfully strengthens the combined company’s ExecPro practice group.

ARC will join CRC Specialty, continuing to operate under its existing leadership team.

Founded in 1986 by Christopher Cavallaro and headquartered in New York, ARC was established as a boutique management and professional liability wholesale broker. The firm maintains strong relationships with over 250 carrier partners and serves over 2,000 retail brokers nationwide.

Since then, it has expanded its expertise into property and casualty products, operating in six offices across the United States, including New York, California, Florida, Georgia, New Jersey, and Connecticut.

Dave Obenauer, Chief Executive Officer, CRC Group, commented, “This acquisition marks a major step forward as we continue to build CRC’s specialty capabilities. ARC’s deep expertise in professional liability, strong retail and carrier relationships, and proven leadership will enhance our ability to deliver best-in-class solutions across the industry. We are excited to welcome Chris, Mike, and the entire ARC team to CRC Group and look forward to the immediate impact they will have in strengthening our ExecPro practice.”

Christopher Cavallaro, Executive Chairman, ARC, stated, “Joining CRC is a tremendous opportunity for our company, employees, and clients. ARC and CRC share similar cultures, built on expertise, relationships, and doing right by our partners. We are excited to begin this next chapter together.”

Michael Cavallaro, CEO of ARC, added, “CRC’s national scale, technology-driven platform, and commitment to excellence align perfectly with our vision for ARC. Together, we will be able to offer even greater value, broader market access, and innovative solutions to our clients while maintaining the high level of service they expect.”

Debevoise & Plimpton served as legal counsel to CRC Group, and Kramer Levin Naftalis & Frankel LLP served ARC.

Insurance Advisory Partners LLC served as the exclusive financial advisor to certain funds managed by Stone Point Capital LLC, the majority equityholders of ARC.

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CRC Group, a wholesale specialty insurance distributor in North America, has acquired ARC Excess & Surplus, LLC (ARC), one of the country’s largest specialty wholesale insurance distributors, adding significant scale and capabilities to its growing platform. ARC has over $1 billion in annual premium and the acquisition meaningfully strengthens the combined company’s ExecPro practice group.…