Unitas Financial Services is expected to be well placed in the market to sere financial institutions and real estate investors with its insurance solutions and systems

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Golden Eagle, Innovative Risk to combine as Unitas Financial Services. (Credit: Pete Linforth from Pixabay)

US specialty insurance companies Golden Eagle Insurance and Innovative Risk Solutions have agreed to merge to create a new company called Unitas Financial Services.

Terms of the merger were not disclosed.

Established in 1995, Golden Eagle Insurance caters to financial institutions with loan portfolio protection and other insurance solutions. The company’s flagship product – Blanket 360 is said to offer full protection to lender portfolios while creating efficiencies in operations.

On the other hand, Innovative Risk Solutions, which was founded in 2006, offers insurance solutions to financial institutions and also private real estate property portfolios.

The company’s products include Lender Placed Hazard and Flood Protection. Innovative Risk Solutions’ Master Real Estate Investor Insurance Program is said to help real estate investors in optimising their hazard insurance processes.

The merger of the two specialty insurance firms is expected to be completed by the year-end.

Unitas Financial Services, the combined company is expected to be well placed in the market to sere financial institutions and real estate investors with its insurance solutions and systems.

Furthermore, the enlarged specialty insurer will be able to partner with independent insurance agencies and brokers to boost their competitive advantage in the market by offering enhanced products to their clients, said Golden Eagle Insurance.

Unitas Financial Services co-owner and president Bill Jones said: “These two companies were a perfect fit. The owners were already doing business together and our mutual goal was simple: Be even better for our lending and investor customers in every area – products, systems, claims, and most important of all, highly responsive service.

“Community lenders have a lot of advantages to offer over the large big box banks and we have those same advantages to offer community lenders over the big box national brokers and insurance companies.”

Unitas Financial Services to be based in Ohio

Unitas Financial Services will be headquartered in Johnstown, Ohio, and will have offices in other cities in the US including Dublin, Kentucky, and Denver.

Unitas Financial Services mortgage division co-owner and president Lisa Cooper said: “We see a void in the market where community-minded lenders who strive to give their clients quality products and service do not get quality products and service from their vendors. Unitas will fill that void for lenders that value service and a partner that wants to develop a quality long-lasting relationship with them.”