International broker acquires insurance tech initiative

International broker acquires insurance tech initiative

International broker acquires insurance tech initiative Integro Insurance Brokers announced Friday that it has acquired Insurance Revolution, Inc., the parent company of niche insurance retail broker Maloy Risk Services, Inc. and Lloyd’s cover holder Piedmont Managers, LLC.

Founded in 1999, Insurance Revolution was created to serve as the parent platform of Maloy (est. 1872) and Piedmont Managers (est. 2014).

Maloy’s practices are focused on financial institutions, including hedge fund, mutual fund, registered investment advisers, venture capital and private equity firms. The firm has also worked with public and private companies in the technology and life science industries.

Following the acquisition, Maloy’s Financial, Life Science and Technology will join Integro’s Risk Management Division. Piedmont Managers will continue to operate within the same division.

“Rick Maloy and his specialist team bring much to Integro, including considerable expertise in creating customized risk management solutions for underserved risks,” remarked Integro CEO Bill Goldstein. “In addition, the team’s innovation is well known, as evidenced by a bespoke management liability product they developed that is having significant impact in the hedge fund market place.  We are delighted for Integro and our clients in a number of industries that stand to benefit from the experience and knowledge the team adds to Integro.”

“Integro shares our specialty practice mentality and embodies an entrepreneurial spirit consistent with Maloy’s,” commented Maloy Risk Services founder Rick Maloy. “Integro’s philosophy, like ours, is all about developing solutions to fit each client’s specific needs, clearly making this a great cultural and strategic fit. Our clients will benefit greatly from Integro’s scale and resources, while our expertise will add value to their clients within our target sectors.”

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