Constellation Affiliated Partners has acquired Atlanta-based specialty wholesale broker and managing general agent INSUREtrust LLC, which does business as ITDC Insurance Services.
Terms of the transaction were not disclosed.
In a statement Thursday, the New York-based private equity-backed insurance consolidator platform said executive Christiaan Durdaller has been promoted to president and CEO of INSUREtrust, succeeding founder Steve Haase, who is retiring. Mr. Durdaller was previously executive vice president.
INSUREtrust distributes cyber liability, technology errors and omissions and miscellaneous professional liability coverages.
The partnership with Constellation will support an additional $1 billion in gross written premium, Mr. Durdaller said in the statement.
It will also bring the industry expertise of Constellation CEO Bill Goldstein and Managing Director Brian Norman, he said.
Constellation Affiliated is backed by New York-based private equity firm, RedBird Capital Partners Management LLC.
INSUREtrust also announced that executive vice presidents Erin Burns and Hunter Maskill have been promoted. Ms. Burns has been promoted to head of brokerage, overseeing brokerage operations, while Mr. Maskill has been promoted to managing director, the statement said.
Marsh Berry & Co. advised INSUREtrust on the sale.
