San Diego, CA, 11/03/2010 – ARROWHEAD General Insurance Agency, Inc., a leading provider of property and casualty insurance programs and one of the nations largest program managers, is pleased to announce the acquisition of program manager Alexander Anthony Insurance Agency, LLC. Located in Salt Lake City, Utah, Alexander Anthony specializes in real estate agents and brokers errors and omissions insurance.
The acquisition is part of Arrowhead’s strategic focus on the expansion of its program management franchise into specialty lines of business. The Company’s significant corporate infrastructure and resources will allow for quick and streamlined integration of this niche program, and more importantly, help Alexander Anthony execute a well-defined geographic expansion plan. Arrowhead’s resources include a secure online portal for quoting and policy management as well as operational and marketing expertise. These resources combined with Alexander Anthony’s established strong producer relationships and underwriting knowledge will catalyze profitable growth.
Chris Walker, Arrowhead’s Chief Executive Officer said, “We have been actively looking to grow our specialty program franchise and we could not think of a better addition than Alexander Anthony. This is a great alignment of Arrowhead’s corporate resources with a well-recognized book of business. It is this synergy that has poised the program for stable and profitable growth.”
Pete Savas, Managing Partner of Alexander Anthony, will join the Arrowhead management team as President of the newly formed Real Estate Errors and Omissions Department in Arrowhead’s Specialty Division. Savas will continue to oversee all underwriting for the program and will work closely with Arrowhead’s executive team to build a national program.
“I’m thrilled to have partnered with Arrowhead,” Savas said. “Aligning our already successful business with the corporate infrastructure, marketing and technology resources Arrowhead can provide allows us to take this line of business to the next level. This is a significant opportunity and we’re ready to hit the ground running.”
Arrowhead’s earnest pursuit of Alexander Anthony was driven by the fact the specialty program manager was growing in the face of a challenging market. With the Arrowhead resources supporting the department, this program is expected to grow considerably.
Arrowhead General Insurance Agency, Inc., headquartered in San Diego, is an independent national insurance program manager for commercial and personal products and is one of the largest privately held general agencies in the U.S. Arrowhead’s relationships with strong insurance carriers provide stability for its nationwide network of producers. We invite insurance agencies and companies from coast to coast to grow with us. For more information about our products and services, please visit us at ArrowheadGrp.com
D. Mac Armstrong, CFO and EVP, Arrowhead General Insurance Agency, Inc.
MArmstrong@ArrowheadGrp.com | 619.881.8614
ARROWHEAD Communications | Tel 619.881.8655 | Fax 760.710.6589
701 B Street, Suite 2100, San Diego, CA 92101 | CA License #0699809
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