Conshohocken, Penn.-based NSM Insurance Group announced Monday it had acquired Shield Commercial Insurance Services as part of a continued strategic growth strategy.
NSM is one of the country’s leading specialty insurance providers with more than $1.5 billion in premiums across its more than two dozen niche insurance program across the United States and in the United Kingdom.
“We are energized to continue our series of strategic acquisitions in the U.S. and U.K. with Shield,” Bill McKernan, president of NSM Insurance Group, said. “Shield is a fast-growing and best-in-class business with exceptional underwriting and a profitable track record. They are a perfect fit for our B2B portfolio of dynamic, specialized businesses. We will accelerate their growth by expanding their geographic footprint and national distribution with our robust network of 15,000+ agent partners across the country.”
NSM said Shield is exclusively focused on underwriting for small and mid-sized contractors, and offers coverages for general liability, excess liability, workers compensation, inland marine and contractors professional and pollution liability.
“We’re thrilled to join the NSM family of specialty insurance brands and further enhance and bolster our offerings to meet the unique needs of contractors,” Robert Anderson, president and co-founder of Shield Commercial Insurance Services, said. “Over the last two decades, we have delivered innovative products for this niche segment and have built a tremendous reputation with agents and carriers alike — which has fueled our explosive organic growth over the last five years.”
For more than three decades, NSM has been building sustainable programs that outperform competitors and drives growth and profitability. This latest acquisition, the company said, will add to its portfolio of specialty insurance programs and brands.