Posted on 08 Nov 2011
Distinguished Programs Group LLC (Distinguished) has acquired the assets of The Colonial Group (Colonial), a managing general agency specializing in insuring small mercantile businesses in New York, such as restaurants, laundromats, and nail salons.
The Colonial product mix will complement Distinguished’s product portfolio, notably the New York Brick & Brownstone program, which features a package product designed for brownstones, condos, co-ops and rental buildings. The acquisition will allow Distinguished to provide insurance to both the building owners and their small commercial tenants, extending better and broader business solutions to the marketplace.
“Colonial’s underwriting experience and longstanding prominence in New York will be a valuable asset to our organization,” said Carla Vel, President and Chief Operating Officer of Distinguished. “The mutual focus on small accounts will allow us to leverage our distribution networks and profitably grow our book of business. We are thrilled to welcome the talented team at Colonial to the Distinguished Programs Group.”
Jeremy R. Hitzig, Chief Executive Officer of Distinguished commented, “This acquisition is a great strategic fit for both of our organizations. We’re confident that our customers and insurance company partners will realize significant additional value through the combination.”
Distinguished was advised by Gill & Roeser Holdings, Inc.
For more information on Colonial, please visit www.dpcolonial.com.