The H.W. Kaufman Financial Group has acquired New York City-based specialty insurance organization Global Excess Partners for an undisclosed amount.
Commenting on the transaction, Kaufman Financial Group president and CEO, chairman Alan Jay Kaufman said the presence in the city will help offer clients greater capabilities and property capacity, while making its business more competitive globally.
Following completion of the transaction, Global Excess Partners will operate as an independent entity within the Kaufman Financial Group network while retaining its entire leadership team, staff and office in New York.
Global Excess Partners president and CEO Diarmuid Hogan said, "The transaction allows Global Excess Partners to retain our independence while having the full backing of the multi-national Kaufman Financial Group to expand our services, invest in talent and remain in position for future growth."
Sherman & Company had served as financial advisor on the transaction to Global Excess Partners.
Focused on large and middle market property accounts, Global Excess Partners provides underwriting programs on behalf of Lloyd's and other carriers.