Integrated Specialty Coverages (ISC) has acquired Paramount General Agency and Paramount Acceptance (Paramount).
ISC is sponsored by an investment vehicle managed by Sightway Capital, a Two Sigma company.
ISC will utilize its strong relationships and operational expertise in the insurance industry and focus on diversified growth and technological innovation. The company will combine M&A, new program development, and other innovative growth initiatives to create diversification across end markets, carriers, producers, and geographies.
Along with acquisitions and organic growth initiatives, ISC will take a systematic approach to applying proprietary models and best practices across new business lines, under the strategic guidance of Sightway Capital.
ISC was founded and is led by Chief Executive Officer Matt Grossberg, an industry veteran with a long history of acquiring and growing insurance distribution businesses. The ISC management team collectively has over 80 years of combined insurance experience and brings to bear significant underwriting expertise, long-standing industry relationships, and a targeted distribution platform. ISC was formerly known as Insurance Strategies Consulting and is rebranding to Integrated Specialty Coverages (ISC) in conjunction with the acquisition of Paramount.
“We are thrilled to announce our recent acquisition and rebranding efforts as it highlights the strategic vision of our company,” said Mr. Grossberg. “We look forward to partnering with the leadership team at Paramount and the Sightway team to build a world class MGA with a diverse suite of offerings that will greatly benefit the insurance industry.”
Paramount is a licensed MGA providing commercial auto liability, cargo, and physical damage coverage as well as premium financing to trucking businesses. It primarily serves the northeast and southeast regions in the state of Texas.
“We are excited to partner with Matt and his team to empower ISC to broaden its capabilities and build a differentiated insurance platform with enduring franchise value,” said Mike Gross, Investment Partner at Sightway Capital. “Our firm is invested in the company’s long-term success and will work closely with ISC’s leadership to execute on its growth strategy.”
Source: Company Press Release