October 8, 2021

Woodmere, OH, October 11, 2021 – MarshBerry is pleased to offer its congratulations to CM&F Group, Inc. (CM&F) and Specialty Program Group, LLC (SPG) on their recent partnership. MarshBerry is the investment banking firm that represented CM&F, based in New York, NY, in its sale to SPG. The transaction closed on October 1, 2021.

As the leading technology-enabled player in the Medical malpractice liability insurance protection space, CM&F has insured millions of healthcare professionals since developing the first nursing professional liability policy in 1947. By partnering with SPG, CM&F is positioned to continue as an industry leader and expand its digital offerings.

“MarshBerry is honored to have worked with CM&F in order to position themselves for continued growth,” said Gerard Vecchio, Managing Director – MarshBerry. “As a member of MarshBerry’s Connect Network, and active participant in our Peak Performance summit for specialty distributors and markets in the insurance space, MarshBerry continues to be impressed with CM&F’s transition into the digital insurance space. We’re excited for the continued growth and new opportunities that this partnership creates.”

MarshBerry remains the number one sell side advisor for insurance agencies and brokerages for the 22nd year in a row and retains its position as the industry leader for total number of clients advised1. Since 1999, MarshBerry has advised on more than 900 M&A transactions which is approximately 27% of the total tracked deal flow during this period as reported by S&P Global Market Intelligence.

Terms of the transaction were not disclosed.

About MarshBerry – Helping Clients Learn, Improve & Realize Value

Founded in 1981, MarshBerry serves the insurance brokerage industry, including insurance agents & brokers, specialty distributors, private equity firms, banks & credit unions and insurance carriers. MarshBerry’s industry-specific services help clients build, enhance and sustain value through: Market Intelligence & Benchmarking, Organic Growth Consulting, Connect – Executive Peer Exchange Network, Connect Platform – Agency Aggregation, Merger & Acquisition Advisory*, Debt & Equity Capital Raising, and Financial Consulting. Learn more at

1Source: S&P Global Market Intelligence, data pulled as of January 31, 2021; showing the top six advisors with the largest number of deals in 2020. “Clients Advised” represents the number of different buyers or sellers advised during 2020.

*Investment banking services offered through MarshBerry Capital, Inc., Member FINRA and SIPC, and an affiliate of Marsh, Berry & Co., Inc.