Integro, an insurance brokerage and risk management company, has completed acquisition of the assets of iTrade, a bonds and logistics brokerage division of Navigators Management Company.
Financial terms of the transaction remained undisclosed.
Integro president and CEO Peter Garvey said, "This acquisition also affirms Integro’s commitment to supplement organic growth with selective acquisitions when they enhance our client offerings, add proven talent and help us meet growing marketplace demand."
NMC president and CEO Vincent Tizzo added, "After observing the growth of its Trade & Logistics practice, clearly Integro is the perfect fit for iTrade’s clients and colleagues."
Headquartered in New York, iTrade is a provider of insurance, bonds and support services to customs brokers, freight intermediaries and the logistics trade across the US.
Integro Trade & Logistics specializes in cargo insurance, US customs & transportation bonds, truck insurance, business property & casualty insurance, besides creating and customizing logistics liability programs for international and local customers.