W.N. Tuscano Agency acquires Special Risk Solutions from Utica Mutual
GREENSBURG, Pa., Nov. 30, 2012 /PRNewswire/ -- W.N. Tuscano Agency, a wholesale broker located in Greensburg, PA, has acquired Special Risk Solutions, Inc. (SRS), the brokerage division of Utica Mutual Insurance Company, a member company of the Utica National Insurance Group of New Hartford, NY. SRS will begin doing business under the Tuscano brand on December 3, 2012 and will operate under Tuscano's management.
The announcement was made by agency President Rob Tuscano, who explained that several members of the SRS staff will join the Tuscano Agency, including Assistant Vice President /Underwriting Manager Terri McDowell. He noted that Utica agents will have immediate access to the many specialty products and markets that Tuscano offers.
"This is an excellent opportunity for SRS and the Utica Agency partners," Mr. Tuscano said. "Special Risk Solutions operates with the same values of service and relationship as Tuscano. With our broad access to markets and the solid service and operations support we provide, we are positive that this acquisition will be a benefit for all the stakeholders."
"We are very excited to join the Tuscano team," Ms. McDowell added. "While we have a history of providing exceptional service to our agent partners, Tuscano's first-class reputation and vast resources will greatly enhance our ability to provide quality service. I am confident this transaction will be a win-win for everyone involved."
Philo Smith & Co. served as sole financial advisor to Utica Mutual on this transaction.
About W.N. Tuscano Agency
The W.N. Tuscano Agency is a family-owned and operated insurance wholesaler and surplus lines broker specializing in property & casualty insurance for both personal and commercial lines of business. Tuscano was founded in 1970 and Rob Tuscano was named President in 1992. The home office is located in Greensburg, Pennsylvania. Tuscano offers a wide range of brokerage products in the eastern, southern and mid-western states. Insurance producers can contact Tuscano at 1-866-442-8063 or online, www.tuscano.com.
About the Utica National Insurance Group
Utica National Insurance Group is among the top-100 property and casualty insurance organizations in the country, according to net written premium rankings compiled by the National Underwriter magazine. The company has regional and claims offices throughout the country, employs 1,500 people countrywide and sells its products through more than 1,900 independent insurance agents. The Utica companies are rated "A-" or "Excellent" with a stable outlook by the A.M. Best Company. www.uticanational.com
SOURCE W.N. Tuscano Agency