Paragon Insurance Holdings, LLC Acquires BreweryPlus, WineRe, WineryPlus, and North American Timber from Alteris Insurance Services, Inc.October 2, 2017
Paragon Insurance Holdings, LLC, a national multi-line specialty program manager, today announced it has closed the acquisition of BreweryPlus, WineRe, WineryPlus, and North American Timber businesses from Alteris Insurance Services, Inc., a member of Argo Group International Holdings, Ltd. (NASDAQ: AGII). In conjunction with this acquisition, 22 Alteris employees associated with these programs will join Paragon.
"The integration of the Alteris brewery, winery and timber portfolios with Paragon will diversify our product offerings and strengthen our distribution network," said Ron Ganiats, Managing Partner, Paragon Insurance Holdings, LLC. "We are pleased to welcome the Alteris employees to our team."
"The closing of this sale is another step toward simplifying and focusing the structure of Argo Group's U.S. organization," said Andy Borst, president, Argo Group U.S. Specialty Programs. "I would like to thank these teams for their time, commitment, and energy in building these programs. I know they will be successful in adding value to the growing business at Paragon Insurance."