NU Online News Service, Dec. 10, 2:35 p.m. EST
Breckenridge Insurance Services, a Breckenridge IS Inc. company, said it has acquired the assets of International Placement Services, LC, a wholesale insurance brokerage firm founded by Richard J. Eichhorn in 1981. Financial terms of the acquisition were not released.
IPSICO's expertise is in hard-to-place, standard and excess/surplus lines risk. It brings a full line of property and casualty placement and consulting services to Breckenridge. It is the program administrator for a number of exclusive distribution agreements with major international insurance carriers.
Breckenridge is a specialty insurance underwriting manager, program administrator, managing general agent, wholesale broker and insurance services company.
Complementing its primary focus on specialty insurance markets, Breckenridge said it offers a full range of commercial property and casualty insurance products and insurance services.
New York-based is owned by Arsenal Capital Partners.
With IPSICO, Breckenridge said it now has completed four major acquisitions or strategic investments. During the coming year, Breckenridge said it plans to complete acquisitions of additional specialty insurance operations in strategic markets that will be layered into the corporate infrastructure of brokerage, alternative risk, reinsurance, program administration and underwriting.
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