MARSHBERRY CONGRATULATES EUCLID FIDUCIARY ON THEIR PARTNERSHIP WITH SPECIALTY PROGRAM GROUP
Woodmere, OH, January 17, 2023 – MarshBerry, a leading investment banking and consulting firm serving the insurance distribution and wealth management industries, congratulates Euclid Fiduciary, a subsidiary of Euclid Insurance Services (EIS), on their sale to Specialty Program Group (SPG). MarshBerry served as the exclusive financial advisor to EIS on the transaction which closed on December 31, 2022.
Founded in 2011, Euclid Fiduciary is one of the country’s leading providers of fiduciary liability insurance for employee benefit plans, insuring many of America’s largest and best managed single-employer, multiemployer, and governmental plans.
“MarshBerry proudly represented EIS on its sale of Euclid Fiduciary. MarshBerry’s Specialty Practice built a relationship with EIS over the years through their attendance at MarshBerry’s annual Peak Performance Summit, a specialty focused education and networking event. Further, MarshBerry previously partnered with EIS in various projects and transactions including Euclid Managers in 2015,” said Phil Trem, President – Financial Advisory.
MarshBerry’s transaction team included George Bucur – Managing Director and Co-Head of MarshBerry’s Specialty Practice, Pete Kampf – Vice President, and Alex Moore – Associate.
“Given the relationship built with EIS, and MarshBerry’s proprietary merger & acquisition process which delves into the needs and goals of our clients, our firm was uniquely positioned to identify the right partner in SPG. EIS’s model and expertise align very well with SPG and their platform to deliver insurance solutions to complex niches,” said Bucur.
Terms of the transaction were not disclosed.
MarshBerry remains the number one sell-side advisor for insurance agencies and brokerages and retains its position as the industry leader for total number of clients advised. Since 1999, MarshBerry has advised on more than 1,100 merger & acquisition transactions which is approximately 25% of the total tracked deal flow in the insurance distribution industry during this period as reported by S&P Global Market Intelligence.
MarshBerry – Helping Clients Learn, Improve & Realize Value
Founded in 1981, MarshBerry serves the insurance distribution and wealth management industry including insurance agents & brokers, specialty distributors, private equity firms, and wealth management firms. MarshBerry’s industry-specific services help clients build, enhance and sustain value through: Merger & Acquisition Advisory, Debt & Equity Capital Raising, Financial Consulting, Market Intelligence & Benchmarking, Organic Growth Consulting, Connect –Executive Peer Exchange, and Platform Aggregation. Learn more at www.MarshBerry.com.
About Euclid Fiduciary
Founded in 2011, Euclid Fiduciary is an expert underwriter for complex fiduciary liability insurance for America’s best-run employee benefit plans. Euclid Fiduciary has underwriting, claims and marketing authority from Hudson Insurance Group, a leading underwriter of specialty lines programs. For more information, please visit https://www.euclidspecialty.com/.
Investment banking services offered through MarshBerry Capital, Inc., Member FINRA and SIPC, and an affiliate of Marsh, Berry & Co., Inc.