Applied Underwriters Acquire Blues Ridge of South Carolina
Omaha, NE - June 5, 2020
June 5, 2020 (Omaha, NE) -- Blue Ridge Specialty Group of Greenfield, South Carolina, a managing general underwriter specializing in trucking-related risks, has been acquired by Applied Underwriters, Inc., according to Applied Founder, Chairman, and CEO Steve Menzies.
Blue Ridge, which works with agents and brokers, will retain its operations in South Carolina; the company will continue to be headed by its principals and co-founders, Mike Gordon and Shane Dennie.
Menzies said the addition of Blue Ridge sets complementary services into combination as Applied continues its expansion into the property/casualty insurance space.
In an earlier transaction this year, Applied Underwriters acquired Centauri Specialty Managers on March 31st from its primary shareholder AXA/XL, and third party administrator Siebels-Bruce. As part its purchase of CSM, Applied Underwriters also has an exclusive option to buy the Centauri holding company’s two insurance carriers Centauri Specialty Insurance Co. and Centauri National Insurance Co. Applied said it plans to complete the acquisition of the Centauri carriers upon regulatory approval later this year. The acquisition was structured in steps, with the first step completed on March 31, to ensure the continuity of Centauri’s Demotech A rating, according to Applied.
Applied Underwriters is a global risk services firm offering business services, insurance, and reinsurance solutions. Applied Underwriters operates throughout the U.S. from its operational headquarters in Omaha, Nebraska.