Through the acquisition of Massachusetts-based insurance agency, One80 expands offerings to include specialised life insurance for impaired risk customers, disability, annuities and long-term care products
One80 Intermediaries, an insurance broker in the US and Canada, has acquired The Marcus Insurance Agency, an insurance agency based in Massachusetts, US.
Established in 1960 by Arnold Marcus, The Marcus Insurance Agency is now led by Arnold’s son Eric along with principals Todd and Michelle Landau.
Under Eric’s leadership, the agency is claimed to have grown through increased sales and had also acquired two existing brokerage agencies and opened a satellite office in Pennsylvania.
Marcus Insurance Agency has offices in Boston and Philadelphia
With offices in Boston and Philadelphia, the agency specialises in ‘impaired risk’ life insurance for customers with medical concerns, estate planning (including high net worth customers), business continuity planning and financial underwriting.
Its products portfolio includes universal life, whole life, survivorship life, term insurance, as well as fixed annuities, disability income, long-term care insurance, and linked benefits products.
The firm’s team of underwriters, led by a Registered Nurse, offers onsite clinical underwriting. The agency actively educates agents by conducting seminars on impaired risk.
One80 Intermediaries president Matthew Power said: “At One80 Intermediaries we excel in highly specialized, niche areas of the insurance industry. With the acquisition of The Marcus Agency, we are gaining market-leading access and expertise designed to serve impaired risk clients.
“I was truly impressed with the expansive resources offered by The Marcus Agency, created to meet the needs of their clients.”
The Marcus Agency president Eric Marcus said: “The leadership team has over 100 years of combined industry experience, and we have developed and preserved exceptional relationships with our clients.
“We felt One80 was a strong cultural fit with our agency given the personalized service they offer, their focus on the customer experience, and their innovative approach to meeting rapidly evolving needs across our industry.”
Last month, One80 Intermediaries acquired Equinox Management Group and its affiliates Meridian Management Group and Co-Ordinated Benefit Plans.
Equinox is an Oradell, New Jersey-based reinsurance managing general underwriter (MGU) established in 1994.