Monarch E&S Insurance Services Expands Its Operations with Acquisition of The Assets of Professional Insurance Executives (PIE)

CHICAGO, Sept. 17, 2024 /PRNewswire/ -- Monarch E&S Insurance Services (Monarch E&S), a division of Specialty Program Group LLC, announced its strategic acquisition of the assets of Professional Insurance Executives, Inc. (PIE), a leading contract binding/brokerage business located in Garland, Texas.  This move significantly strengthens Monarch E&S's position as the preeminent national contract binding/brokerage platform in the United States, aligning with its goal to expand its footprint across key markets.

Founded by the highly respected Bruce Hart, who brings over 40 years of industry expertise, PIE is renowned for its strong underwriting acumen and commitment to integrity, innovation, and customer service.

Derek Borisoff, CEO of Monarch E&S, commented, "Bringing PIE into the Monarch family enriches our portfolio with excellent underwriting and expands our relationships in key markets. Bruce's extensive experience and leadership are invaluable as we continue to strive toward being the preeminent leader in the contract binding sector."

Bruce Hart, founder of PIE, stated, "Joining Monarch E&S offers PIE an incredible opportunity to leverage extensive resources and reach broader markets. This expansion will enhance our service delivery and allow us to provide even more comprehensive solutions to our clients."

This acquisition strengthens Monarch E&S's ability to offer comprehensive insurance solutions and reaffirms its leadership position in the contract binding market. PIE's commitment to strong client relationships and tailored solutions aligns with Monarch E&S's client-first approach.

About Monarch E&S Insurance Services, a Division of Specialty Program Group LLC (d/b/a SPG Insurance Solutions in California) 

Monarch E&S Insurance Services is built on treating its customers with unmatched service and deep expertise in commercial and personal lines solutions. As a full-service MGA and wholesale broker, retail insurance agents and brokers have access to many different lines of business through Monarch E&S. Being in business for over 38 years has enabled Monarch E&S to gain underwriting authority with the most highly sought-after surplus line markets and an established reputation in the wholesale brokerage, binding space. For more information, please visit monarchexcess.com 

About Professional Insurance Executives (PIE)

Professional Insurance Executives, Inc., established in 2009 and based in Garland, Texas, is an independently-owned Surplus Lines Insurance and Managing General Agency. Celebrated for its expertise and customer-focused service, PIE navigates complex commercial business environments with an array of products and services. More information about PIE can be found at https://www.pieins.com.

About Specialty Program Group LLC

Specialty Program Group LLC (SPG) is a leading specialty platform headquartered in Chicago, IL, with a diverse portfolio of specialty insurance operations spanning underwriting management, digital solutions, wholesale and specialty retail brokerage, and insurance services. SPG has a track record of scaling industry leading businesses by providing access to business resources, technology and process efficiency, capital and investment, deep carrier relationships, and a broad distribution network. Visit specialtyprogramgroup.com to learn more about how SPG can help you scale your specialty business.

CONTACT:
SPG Media: Danny Fogel
Phone: 312-279-4755
[email protected]

Monarch E&S/PIE: Yiana Stavrakis
Phone: 908-790-6801
[email protected] 

SOURCE Specialty Program Group