Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has completed the acquisition of Commercial Sector Insurance Brokers, LLC (CSIB), a prominent Excess & Surplus (E&S) wholesale broker headquartered in Birmingham, Alabama. Known for its robust expertise in contract binding, the mining industry, and coastal property placements, CSIB boasts a management team with over 50 years of collective experience, led by Bob Bleistine.
This strategic acquisition is poised to significantly enhance Monarch E&S’s operational capabilities, augmenting its portfolio with more extensive coverage solutions and solidifying its market presence. The collaboration aims to tailor specialized insurance products that meet the distinct needs of the mining sector and other industries, with a commitment to surpassing client expectations.
Included in the acquisition is CSIB’s contract binding division, which specializes in a diverse array of risks including contractors, lessors’ risk, and hospitality sectors.
Derek Borisoff, CEO of Monarch E&S, emphasized the strategic value of integrating CSIB, stating, “CSIB has built a strong reputation within our industry and brings deep specialization that complements Monarch’s existing offerings. This integration will bolster our capabilities and enable us to deliver a more comprehensive nationwide contract binding solution. We are excited about the opportunity to expand our service offerings to include CSIB’s expertise in the mining sector.”
Bob Bleistine, President of CSIB, expressed optimism about the acquisition, noting, “Joining Monarch E&S represents a transformative step for us. It allows us to leverage Monarch’s extensive resources while maintaining the high-level, specialized service our clients expect. We look forward to contributing to and growing within Monarch’s dynamic environment.”
This acquisition underscores Monarch E&S’s commitment to strategic growth and enhancing its service offerings to better serve its expanding client base.
