EPIC Insurance Brokers and Consultants has acquired the assets, employees and operations of Vanbridge, a specialty insurance intermediary, program management, and risk advisory services business, for an undisclosed price.
Headquartered in New York, NY, Vanbridge provides products and services at the intersection of the insurance, private equity and hedge fund industries. Vanbridge focuses on alternative asset management, corporate and individual high net worth clients; solving risk related issues utilizing insurance and alternative capital.
EPIC is already the 9th largest privately owned insurance broker in the nation, before the addition of Vanbridge, which adds an additional 45 team members to the firm. EPIC has built a strong, positive reputation nationally for service excellence, innovation, community involvement, collaboration, and having fun – all in the interest of being a “people first” (clients and team members) organization.
Vanbridge managing principal & CEO Philip V. Moyles, Jr. said: “I am very pleased to be joining the EPIC organization. I believe that Vanbridge will be able to leverage the EPIC platform to expand its business on behalf of Alternative Asset Managers.
“I have known John Hahn and Pete Garvey for a long time and they understand what it takes to drive value for this clientele. I look forward to working with them and the EPIC team.”
Upon joining EPIC, the business will operate as Vanbridge – an EPIC Company. Vanbridge’s leadership team will play vital, active roles within the larger, integrated EPIC organization.
Phil Moyles has been appointed Executive Vice President and will report to Peter Garvey, CEO of EPIC Insurance Brokers and Consultants. Moyles will also become a member of EPIC’s Executive Committee. He will continue to lead the Vanbridge operations as a part of EPIC.
Garvey said: “The team at Vanbridge has established their business as the innovative specialist serving the sophisticated needs of the alternative asset management industry.
“Having known Phil well for some time, I’m confident his strong relationships, depth of knowledge, and leadership, combined with our own expanding capabilities, will propel EPIC to a leadership position within this important segment.”
EPIC CEO John Hahn said: “Phil and his team have built a unique set of programs, products and services for an increasingly important segment of the financial services industry. I’ve spent the majority of my career in the wholesale sector – working with both property & casualty insurance products and Broker General Agency life insurance products – and fully understand how important it is to respect and serve all distribution channels.
“Given EPIC’s range of offerings in our Specialty Programs and Products group, we offer Vanbridge and their partners the perfect fit for and support of their distribution model with retail brokers.”
Cozen O’Connor, LLP, led by partners Martin Schrier and Jess Alexander, served as EPIC’s legal advisor. John Kraska of Dowling Hales and Michael Halsband of Drinker Biddle, represented Vanbridge in the transaction.
Source: Company Press Release