Conshohocken-based Novacore, a specialty insurance provider, recently entered into a definitive agreement to purchase Langhorne-based Minglewood Risk, a managing general agent specializing in habitational and real estate coverages.
“The acquisition of Minglewood Risk is not just a growth opportunity; it’s a significant leap towards our mission of redefining the specialty insurance landscape,” Aaron Miller, Novacore CEO, said. “By combining our innovative technology and underwriting expertise, we are poised to deliver unparalleled value to brokers and clients in one of the most dynamic markets in the country.”
Once the deal completes, Minglewood Risk will become part of Novacore’s real estate segment of specialty programs and will focus on expanding into New York City’s five boroughs.
“Together, we bring a shared commitment to underwriting excellence and client-first service, now strengthened by Novacore’s technological and analytical capabilities,” Jon Hill, of Minglewood Risk president, said. “This combination positions us to accelerate growth — particularly in the five boroughs of New York, where habitational demand continues to evolve.”
Novacore provides industry-specific insurance programs through specialized underwriting, advanced technology and trusted carrier partnerships. It partners with more than 20,000 agents nationwide and offers more than 15 specialty programs.
Minglewood Risk provides commercial package, and excess and umbrella coverages with a focus on habitational risk. Its core markets are Pennsylvania, California, Colorado, New Jersey and New York.