Robert S. Goldstein, former chairman and CEO of themanaging general agency BenefitPort Mid-Atlantic, has come out ofretirement to launch Unique Insurance Concepts LLC, a Palm Beach,Fla.-based holding company that aims to acquire suretyagencies.

Goldstein, who sold BenefitPort Mid-Atlantic to a unit ofGoldman Sachs Group Inc. three years after buying the firm in 2005from Marsh & McLennan's MMC Capital, says this is a “marvelousopportunity” for agents interested in selling their agencies.

As the Bush-era tax cuts are expected to end this year,Goldstein says agents should seize the opportunity to sell theiragencies now to maximize returns on their years of effort beforecapital-gains taxes increase.

While Goldstein would not go into detail to NU abouthis backers or the capital arrangements, the game plan for UniqueInsurance Concepts is to create a national network of surety andsurety-related P&C insurance agencies through acquisition.

Goldstein says there is a clear vision to put together a companyof low-loss-ratio, profitable agencies that provide for customersin a competitive market.

Among Unique Insurance's targets will be agencies thatspecialize in the surety business or P&C firms “that work wellwith surety” agencies, Goldstein says, such as an agency thatspecializes in contractors who need bonds to fulfill constructioncontracts.

An aspect of the Unique Insurance approach likely to appeal tosellers: It will be offering principals either an opportunity tocontinue with the firm in a senior-management capacity or to take abuy-out. Sellers will not be obligated to remain with the firm andtake an earn-out of future profits the agency may produce as theircompensation for the sale.