McGowan Acquires Assets of Edgewater Holdings, Ltd.

FAIRVIEW PARK, Ohio, March 5, 2019 /PRNewswire/ -- The McGowan Companies ("McGowan") purchased the assets of Edgewater Holdings, Ltd. ("Edgewater"), effective 2/1/2019. In the near future, Edgewater will be re-branded under the McGowan Program Administrators brand (and will function as a division of McGowan & Company, Inc.).

Established in 1992, Edgewater is one of the pre-eminent program administrators in the U.S. Edgewater specializes in working with insurance brokers to develop "private label" D&O, E&O, EPLI, Cyber, and Workers Compensation programs. Edgewater is also a leading writer of D&O, E&O, EPLI, and WC programs for franchise systems, particularly in the Hospitality/Restaurant space. Edgewater writes specialized insurance for thousands of small-to-medium sized businesses.

The acquisition of Edgewater cements McGowan's position as one of the leading underwriters of D&O, EPLI, Cyber, and Workers Compensation insurance in the U.S. The Edgewater staff will remain in place, led by Mark Kollar, the former President/CEO of Edgewater [P: (312) 431-1767 / E: [email protected] ]. Kollar said:  "We are very excited to become part of The McGowan Companies. Its tremendous distribution and technological capabilities will accrue to the benefit of our brokers and insureds."

All Edgewater brokers will receive automatic appointments with McGowan and its full range of products and capabilities. Coverage is available in all 50 states.

"This acquisition fits exceptionally-well with McGowan's national growth strategy," said Thomas B. McGowan, IV, President/CEO of The McGowan Companies. He continued, "We are very pleased to add Edgewater to our portfolio of companies. Edgewater has a strong tradition of providing exemplary service to its customers… a tradition which we intend to continue."

Please contact Brett Davis or Mark Kollar with any questions:

Legal Notice: Pursuant to an asset purchase agreement, Edgewater Holdings, Ltd. and related entities ("Edgewater") sold certain of its assets, but not its liabilities, to McGowan Consolidated Insurance Holdings Group, Inc. or one of its subsidiaries or affiliated companies ("McGowan"), effective 2/1/2019. Edgewater was not merged with or into McGowan. Edgewater was not consolidated with or into McGowan. McGowan is not a continuation of Edgewater.

SOURCE McGowan Program Administrators