Breckenridge IS, an insurance underwriting manager, has acquired a majority stake in REcentis Intermediaries, a reinsurance broker with offices in California and Sydney.
Recentis, established in in 2006 by Brendan Roche, offers intermediary services and risk consultation covering all types of property, casualty, marine, aviation and agricultural insurance and reinsurance.
Breckenridge said that the addition of reinsurance complements its workers’ compensation, construction, public entity, transportation and alternative risk services.
With this acquisition, Breckenridge will have offices in 14 US states plus Australia and it also enables Recentis to access a broad range of clients with specialty insurance needs that require a custom, individualized solution.
Breckenridge CEO Tracey Carragher said the professionals at REcentis offer their clients direct access to the best expertise in the reinsurance markets. The REcentis business model focuses on finding cost-effective, innovative solutions to the most challenging specialty reinsurance problems in today’s competitive insurance environment.