June 2017

June 13, 2017

TAG Financial Advises XPT Group on equity investment by BP Marsh

BP Marsh & Partners (“BPM”), a London based and listed private equity investor specializing in financial services businesses, made an equity investment in XPT Group, LLC (“XPT”).  XPT is a New York-based specialty insurance distribution company led by an insurance industry veteran management team.  

The XPT team is led by former Marsh , Advisen and Swett & Crawford executive Thomas Ruggieri and Mark Smith, onetime president and CEO of Stewart Smith, the US wholesaler sold by Willis to Amwins in 2005. The XPT start-up team also includes Jeff Heath, the founder of the Heath Group which he sold to Hallmark Financial Services in 2008, and Mason Power, who was most recently COO and CMO at Swett & Crawford working with then CEO Ruggieri. He also worked at Advisen, the information and analysis firm founded by Ruggieri, who left Swett & Crawford after its acquisition by BB&T last year.

The business is set to come to the market with both an acquisition and organic growth strategy at a time of significant consolidation opportunities in the small-to-medium-sized wholesale and managing general agency (MGA) space.

TAG Financial Institutions Group, LLC (“TFIG”) advised on the organization of XPT and facilitated the transaction.

May 2017

May 31, 2017


TAG Financial Nominated as Finalist for Investment Bank of the Year in the 7th Annual ACG New York Champion’s Awards

New York, May 26, 2017 – ACG New York, the largest association of middle-market dealmaking professionals in New York, along with The M&A Advisor today announced the names of the companies, transactions and dealmakers selected as finalists for the 7th Annual ACG New York Champion’s Awards. The two organizations’ annual tribute recognizes and honors individual dealmakers and transactions, as well as the leading middle-market firms that are driving growth within the greater New York metropolitan area. The winners will be announced at the 7th Annual ACG New York Champion’s Awards Gala, Thursday, June 15 at the Metropolitan Club in New York. Selected from more than 150 participating companies in the first stage of evaluation, finalists will be judged by a panel of independent experts in the following categories: Business Firm of the Year (Private Equity, Investment Banking, Lender, Accounting, Law Firm) and Deal of the Year (Business & Financial Services, Consumer/Retail, Healthcare/Pharma, Manufacturing/Industrials, TechnologyMedia-Telecom, Cross Border). Alan Gelband, founder of Gelband & Company, will be honored with the prestigious Peter J. Hilton Founder’s Award for his contribution to ACG New York, ACG Global and to the middle-market community at large over the course of his career. “Over the past several years, we at ACG New York have developed a strategic initiative to advocate for diversity among our ranks. As part of our diversity initiative, we’ve strove to make women not only feel welcome, but empowered members of our organization. Since 2003, we’ve increased our female membership from 3 to 18 percent and we have seen our female colleagues ascend to key leadership roles in our association,” said David Hellier, President of ACG New York. “Two of our major award winners this year are women whose careers have flourished alongside their contributions to ACG New York. This year’s Chapter Leadership Award will honor current ACG New York Chair Heidi Denier for her leadership and significant contribution to our chapter’s success. Marcia Nelson, ACG New York Board Member and Vice President of Programming, will be receiving the Women of Leadership Award.” “In addition, we are also pleased to be honoring Lou Halstead, President, GMW Management, who will be retiring after 15 years of service to ACG New York as our Chapter Executive,” Hellier continued. “During Lou’s time, our membership grew six-fold and programming tripled to 70 programs a year.” This year’s participants represent the industry’s leading firms, including: Piper Jaffray, CSG Partners, WoodLake Group, Monomoy Capital Partners, Golub Capital, Bertram Capital, AUA Private Equity, RLJ Equity Partners, Silver Lane Advisors, Plante Moran, Akerman, CohnReznick, Pepper Hamilton, Solomon Edwards, Carter Morse & Matthias and Moore Frères & Company. Also featured are many of the year’s leading M&A transactions including: the PetValu merger, the sale of fabricated metal product company Continental Midland; the acquisition of SPI and PCS; Cambrex’s purchase of PharmaCore; SJ Partners’ and RLJ Equity Partners’ acquisition of foodservice distributor Native Maine Produce & Specialty Foods; and Vestar Capital Partners’ acquisition of Mobile Technologies Inc. “Each submission received for the 7th Annual ACG New York Champion’s Awards was exceptional; special recognition goes out to our finalists. We are gratified with our continual partnership with ACG New York to recognize the New York area’s leading dealmakers in the middle market,” said Roger Aguinaldo, Co-CEO and Founder of The M&A Advisor.

May 1, 2017

Jeffrey Cohen Joins TAG Financial Group as Managing Director

TAG Financial Institutions Group, LLC is pleased to announce that Jeffrey Cohen has joined the firm in a senior investment banking capacity as Managing Director.

December 2016

December 15, 2016

TAG Financial Institutions Group (“TFIG”) advises Global Bankers Insurance Group on its Acquisition of Bankers Life Insurance Company

Bankers Insurance Group, a member of a group of companies within St. Petersburg-based Bankers Financial Corporation, today announced the sale of Bankers Life Insurance Company (BLIC) to Global Bankers Insurance Group, an insurance affiliate of Eli Global, effective December 15th.

BLIC, which offers a range of annuity options, will remain based in St. Petersburg. The deal has received regulatory approval from all required parties. Terms were not disclosed.

“The BLIC portfolio reinforces our commitment to providing policyholders convenient and affordable options to meet their individual financial planning needs,” said George Luecke, Vice Chairman & Co-CEO of Global Bankers. “We look forward to providing our BLIC customers with the level of service our current policyholders have learned to expect over many years.”

“This sale strengthens our balance sheet and allows us to focus on our key product lines while better positioning us with external stakeholders, ” said John A. Strong, Chairman and CEO, Bankers Financial Corporation. “We are excited the staff at BLIC will remain members of the Tampa Bay community.”

Bankers Life Insurance Company will continue to maintain the BLIC name.

Formed in 1976 by Bankers Financial Corporation, Bankers Life Insurance Company is a St. Petersburg, FL life insurance company with approximately $450 million of assets that is focuses on the marketing of fixed annuity products throughout the United States.  Global Bankers Insurance Group is the insurance division of Eli Global, LLC.   Eli Global  is a North Carolina-based privately-owned globally diversified holding company group with interests in information services, media and advertising, debt collection and credit management services, and other sectors.  Since 2000, Eli Global and its affiliates have made over 30 acquisitions in various industries with total assets of approximately $2 billion.

TAG Financial Institutions, LLC originated the transaction among the parties and advised Global Bankers Insurance Group on the acquisition.

October 2016

October 19, 2016

Katherine Derrenberger Promoted to Senior Associate

TAG Financial Institutions Group, LLC is pleased to announce that it has promoted Katherine Derrenberger to Senior Associate where she will take on additional transactional and management responsibilities.  Kat, who graduated from Boston College in 2014, has participated in closing 11 merger and acquisition and capital raising transactions over the past two years.  She  also helped found TAG Risk Management, LLC, TAG Financial’s risk financing vehicle where she is a Vice President and holds a Property and Casualty Insurance Broker license.  

October 4, 2016

Steven Nigro Participates in Board of Directors Forum

Steven Nigro joined BDO USA, LLP and the National Association of Corporate Directors (NACD) for a director-focused forum focusing on the regulatory landscape and the role of the public board—particularly the role of the board’s audit committee—in helping drive audit quality and responsive financial reporting.  Mr. Nigro joined other experienced board members and former regulators in a lively conversation examining current and proposed financial reporting, audit requirements, and their implications for corporate governance practices.  A transcript and article about the forum is scheduled to appear in the November issue NACD Directorship magazine.

October 3, 2016

Frank Winston Crum Closes on Insurance Facility

On August 16, 2016, FrankCrum General Agency, Inc. (“FCGA”) entered into a general agency agreement and Frank Winston Crum Insurance Company (“FWCI”) executed a reinsurance agreement with Clear Blue Insurance Company (“Clear Blue”). The agreements are part of a structure whereby FCGA will expand its general liability insurance program through the southeast, issuing policies on behalf of Clear Blue that will then be reinsured by FWCI.  The structure allows FCGA and affiliate FWCI to participate in the risk and profitability from its program using Clear Blue’s AM Best A– rating.  The Agreements became effective on September 1, 2016 and approval was granted by the Florida Office of Insurance Regulation on September 30, 2016.

TAG Risk Management LLC, led by TAG Financial Senior Advisor Joe Braunstein initiated and structured the transaction and introduced Clear Blue.  TAG Risk Management is the risk financing subsidiary of TAG Financial Institutions Group, LLC.  Clear Blue was financed by private equity capital arranged by TAG Financial and writes business through its two insurance subsidiaries acquired Clear Blue with TAG Financial as its advisor.

September 2016

September 29, 2016

Managing Partner of TAG Financial Speaks at ACG Event 

On September 29, 2016, Steven Nigro, Managing Partner of TAG Financial Institutions Group, LLC spoke as part of a panel at ACG New York’s Transformational Value Creation event examining how private equity firms and family offices are helping drive transformational value creation in portfolio companies.  Recognizing that growth initiatives, cost cutting and talent acquisition have historically been separate critical approaches in the investment process, transformational change has emerged to the forefront and Mr. Nigro specifically addressed assessing and unlocking value in the human resources acquired or invested in.

September 13, 2016

TAG Financial Institutions Group advises the Audit Committee of the Board of Directors of National General Holdings Corp.

We are pleased to announce that TFIG has recently provided financial advisory services to the Audit Committee of the Board of Directors of National General Holdings Corp. (“NGHC”).    Such services related to assisting and advising the independent directors of NGHC in evaluating and negotiating a successful debt restructuring plan relating to NGHC’s participation as lender in a $250 million credit agreement with ACP Re Holding, LLC (“ACP Re”).   This debt restructuring agreement was precipitated by a process under which Tower Group International Ltd. (“Tower Group), a subsidiary of ACP Re, became insolvent and subsequently all Tower Group non-U.S. subsidiaries were placed in liquidation and its U.S. insurance subsidiaries were merged and placed into liquidation under a Conservation Plan entered into with the California Department of Insurance.   The Tower Group Conservation Plan was approved by the Superior Court of the State of California effective September 13, 2016.

As a result of this debt restructuring, NGHC effectively reduced $125 million of financial exposure under a related Stop Loss Reinsurance Agreement while enhancing the credit profile of its exposure to ACP Re through the renegotiation of the existing $250 million ACP Re credit agreement.  

National General Holdings Corp. (Nasdaq: NGHC), headquartered in New York City, is a publicly traded specialty personal lines insurance holding company with a current market capitalization of approximately $2.3 billion   NGHC traces its roots to 1939, has a financial strength rating of A– (excellent) from A.M. Best, and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

May 2016

May 26, 2016

Brandmark2016Finalist.gif-smallTAG Financial is pleased to announce that Clear Blue Financial is a finalist for the Deal of the Year Award for the 6th Annual ACG New York Champion’s Awards.


New York, May 26, 2016 – ACG New York, the largest association of middle market deal making professionals in New York, and The M&A Advisor today announced the names of the companies, transactions and dealmakers selected as finalists for the 6 th Annual ACG New York Champion’s Awards. The two organizations’ annual tribute recognizes and honors individual dealmakers and transactions, as well as the leading middle market firms who are driving growth within the greater New York metropolitan area. The winners will be announced at the 6th Annual ACG New York Champion’s Awards Gala on Thursday, June16th at the Metropolitan Club in New York.

Selected from more than 150 participating companies in the first stage of evaluation, finalists will be judged by a panel of independent experts for the following categories: Business Services Deal of the Year (Consultant, Management Co, Valuation Firm), Consumer/Retail Deal of the Year, Healthcare Deal of the Year, Manufacturing Deal of the Year, Technology Deal of the Year, Cross Border Deal of the Year and Entertainment/Media/Telecom Deal of the Year.

ACG New York is proud to recognize the significant accomplishments of our members at our 6 th Annual ACG New York Champion Awards. In addition to celebrating the outstanding deals and dealmakers of the middle market, we are also excited to donate the proceeds of the event to our charitable foundation, ACG Cares,” said Heidi Deiner, President of ACG New York. “Our honoree awards this year include David Solomon, Chief Executive Officer, Lazard Middle Market, who will receive the Peter Hilton Founder’s Award for his contributions to ACG New York and to the middle market private equity community at large. This year’s Chapter Leadership Award will honor current ACG New York Chairman Martin Okner for his leadership and significant contribution to our chapter’s growth. And for the first time, we will be honoring a female in the middle market industry – Michelle Van Hellemont, Vice President of our Women of Leadership program, will be receiving the Women of Leadership Award.”

“We are very impressed with all of the submissions for the 6th Annual ACG New York Champion’s Awards and congratulate those who have achieved finalist status. We are honored to be collaborating with ACG New York in celebration of the best deals and dealmakers in the New York region,” said Roger Aguinaldo, CEO and Founder of The M&A Advisor.

Please click here for the full press release.

April 2016

April 26, 2016

AEU Holdings, LLC (“AEUH”) has completed the acquisition of ALLInsurance Solutions Management, LLC (“AISM”) and has reorganized the existing AISM debt.

AEUH, through its operating subsidiaries, provides underwriting, claims handling and cost containment services to multiple employer organizations and associations.  AISM offers insurance products, services and programs nationwide for a wide range of businesses and industries primarily offering self-funded major medical health insurance to businesses through Professional Employer Organizations and associations. By purchasing AISM, AEUH adds accident and health products to its multi-employer group clientele.

TAG Financial Institutions Group, LLC advised AEUH on the acquisition and debt restructuring and arranged an acquisition debt facility.

March 2016

March 9, 2016

TAG Financial Institutions Group is pleased to announce that Venbrook Group has made a strategic investment in Brooks Insurance Group.  Brooks Insurance Group is a leading wholesale insurance brokerage located in New Jersey writing business across the U.S.  This investment provides Venbrook with a Northeast office location and wholesale insurance brokering expertise.  TAG Financial Institutions Group served as exclusive financial advisor to Brooks Insurance Group on the transaction.

March 11, 2016

TAG Financial Institutions Group is pleased to announce that Southland National Insurance Corporation has acquired a 100% interest in Mothe Life Insurance Company via an equity recapitalization transaction.   Southland National is a North Carolina domiciled life insurance company with over $300 million of assets that is focused on marketing pre-need life insurance and annuity products to middle market customers and is an affiliate company of Eli Global, LLC, a diversified holding company comprised of over 30 independently operating entities.  TAG Financial Institutions Group served as exclusive financial advisor to Southland National and its parent company on the acquisition and recapitalization.


December 2015

December 11, 2015

TAG Financial Institutions Group is pleased to announce that Clear Blue Financial Holdings LLC (“Clear Blue” or “the Company”), a newly-formed commercial insurance fronting provider, announced that it has officially launched with two fully-licensed fronting carriers and will begin servicing clients immediately. The combined carrier group has received an A.M. Best rating of A– (Excellent). The Companies are backed by Pine Brook, a private equity firm with deep financial services and insurance sector expertise.  TAG Financial raised capital to finance the business, identified and advised on the acquisition of the two insurance subsidiaries, and advised on aspects of the rating and regulatory processes.

As a fronting carrier, Clear Blue is a non-risk bearing insurance business that enables traditional and alternative reinsurers to access the on-shore U.S. market through use of Clear Blue’s program management expertise, licenses and A.M. Best rating. Clear Blue was founded by a proven management team led by President and CEO Jerome Breslin, who built Bank of America’s commercial insurance division. He is joined by Chief Risk Officer Jim Mann and Chief Operating Officer Peter Klope, both of whom worked with Breslin at Bank of America. The management team is rounded out with Jeff Downey, former TAG Financial Principal, Manuel Lebron and Scott Palladino, all of whom bring significant experience in the P&C industry to the Clear Blue team.  Steven Nigro, Managing Partner of TAG Financial has been named to the Board of Directors of Clear Blue.

 About Clear Blue Financial Holdings LLC

Clear Blue Financial Holdings LLC is a privately owned Puerto Rican-based holding company, which, through its wholly-owned subsidiaries offers fronting and related services to the U.S. insurance marketplace.

About TAG Financial Institutions Group, LLC

TAG Financial Institutions Group is a boutique investment banking firm focused in the lower to middle market financial services sector, with a specific niche focus in insurance. The Company is based in New York City and is an affiliate of The Alberleen Group and in association with Cuttone & Company, Inc. member FINRA and SIPC.

Click here for a full press release.


October 2015

October 12, 2015

We are pleased to forward the following press release announcing the acquisition of Oxford Coverage by Hub International. Oxford is one of  the leading private retail insurance agency specializing in the nursing home and assisted living industry.  TAG Financial represented Oxford in the transaction further solidifying our position as one of the leading investment banks serving the insurance agency and broker marketplace.

Hub International Acquires New York-Based Oxford Coverage

Chicago, October 12, 2015 — Hub International Limited (Hub), a leading global insurance brokerage, announced today that is has acquired the operations of Oxford Coverage (Oxford).  Terms of the acquisition were not disclosed.

 Based in Brooklyn, New York, Oxford specializes in providing commercial lines insurance solutions for the nursing home and assisted living industry.

“We are excited to join forces with HUB, who is very well known in the healthcare industry for providing top notch insurance and risk management programs to senior living facilities throughout the Northeast and nationwide,” said Joseph Schwartz, President of Oxford. “Now as part of a top 10 global brokerage firm with full service capabilities, we will be able to offer our existing clients with more robust coverage options, access to additional markets, and many value added services.”

“The Oxford team will be a great addition to Hub Northeast given their extensive knowledge of the commercial insurance market for nursing homes, assisted living facilities and beyond,” said Marc I. Cohen, President, US East, Hub International Limited, President & CEO, Hub International Northeast. “We are pleased to welcome Joseph and the entire Oxford team to our organization, as well as their customers, who we look forward to serving as we continue to grow our healthcare offerings globally.”

About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.  For more information on the Hub M&A experience, visit

About Hub International
Headquartered in Chicago, IL, Hub International Limited is a leading global insurance brokerage that provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.  For more information, please visit

June 2015

June 8, 2015

AEU Holdings Closes on Acquisition Facility to Complete Four Acquisitions

AEU Holdings, LLC (“AEU Holdings”), a diversified specialty insurance platform specializing in insurance, risk management, cost containment and claims administration for multi-employer, association and affinity groups has closed on an acquisition debt facility arranged by TAG Financial Institutions Group, LLC. Simultaneous with the close, AEU Holdings completed the following transactions:

AEU Holdings has Acquired Tee & Gee Group

AEU Holdings has acquired Dallas based Tee & Gee Group, LLC (“Tee & Gee”), a managing general agency that provides workers’ compensation insurance through exclusive insurance programs for Professional Employer Associations (“PEOs”).  Tee & Gee provides comprehensive insurance placement, risk management and risk financing services and strategies for its clients. Tee & Gee was acquired from American European Insurance Group, Inc. (“AEG”), a New York based insurance company in a three-step transaction whereby the management of Tee & Gee purchased a minority stake of Tee & Gee then AEU Holdings purchased 100% of Tee & Gee from management and AEG.  Management will continue to operate the business for AEU Holdings. 

AEU Holdings has Acquired Trinity Insurance Services

AEU Holdings has completed the acquisition of New Orleans based Trinity Insurance Services, LLC (“Trinity”). Trinity is an independent insurance adjusting company and third party administrator with a nationwide network handling property and casualty claims.   

AEU Holdings has acquired Medical Cost Managers

Medical Cost Managers, LLC is a medical cost containment company providing cost containment services for workers compensation programs through medical bill review, medical case and utilization management and vocational rehabilitation.

AEU Holdings has acquired a case management corporation specializing in working with injured individuals and providing workers’ compensation vocational cost management services.

March 2015

March 11, 2015

TAG Financial Raised Debt Facility for The Rubin Group

We are pleased to announce that TAG Financial has closed on a debt facility for The Rubin Group Inc.  Based in New York City, The Rubin Group is an insurance brokerage focusing on large commercial risks with a specific focus on large law firms.   TAG Financial Institutions Group will continue to advise The Rubin Group on future corporate finance initiatives.

March 10, 2015

Joseph F. Braunstein Joins TAG Financial Group as Senior Advisor 

TAG Financial Institutions Group, LLC is pleased to announce that Joseph F. Braunstein has joined the firm as a Senior Advisor.  Joe will concentrate on the origination of specialty insurance transactions and will lead the formation of TAG Risk Management, LLC, an insurance services platform created to support TAG’s insurance industry clients.

Joe has had over 30 years of underwriting, product and distribution management experience in the both the Property and Casualty and Group Life sectors. Most recently he was President and CEO of Sunshine State Insurance Holdings Company, based in Jacksonville Florida. Previously, Joe served as Executive Vice President of Insurance at Cypress Property & Casualty Insurance Company, President of United States Fire Insurance Company, and Chief Operating Officer and President of Crum & Forster Holdings Corp. Prior to Crum & Forster Joe spent 29 years at CIGNA, where he served in field and product line management roles in its large risk and international businesses and led CIGNA’s Integrated Care unit, a division of CIGNA’s Healthcare business.

“We are thrilled to have Joe aboard and look forward to leveraging his great reputation and extensive experience” said Steven Nigro, TAG Financial’s Managing Partner. “TAG Financial provides more than just investment banking services. We continue on a course of providing direct investments, strategic advice, and business and operating support.  Joe will be instrumental in this strategy by providing access and resources to TAG clients that are comprehensive and unique”.

December 2014

December 31, 2014

Cabot Underwriters, LLC closes on its acquisition of a medical stop-loss book of business

Cabot Underwriters, LLC (“Cabot”); a Florida based Accident and Health Insurance Managing General Underwriter, completed its acquisition of a medical stop-loss business. The acquisition is part of Cabot’s strategy capitalizing on the market demand for accident and non-major medical health insurance products from the rapidly emerging market of uninsured or underinsured employees and the demand for self-insured alternatives created by the implementation of the Patient Protection and Affordable Care Act.

TAG Financial Institutions Group, LLC arranged the acquisition finance facility on behalf of Cabot.  The Transaction and financing closed on December 30, 2014.

December 31, 2014

Thorson Insurance Services completes its acquisition of PrimeOne Insurance Company

Thorson Insurance Services, a nationwide insurance services and distribution platform based in Westlake Village California has closed on its acquisition of PrimeOne Insurance Company; a Michigan based multi-line property and casualty insurance carrier.  Thorson companies include Thorson Specialty Insurance Services, a specialized retail insurance brokerage agency; Thorson Associates Inc., managing general agent that is the exclusive program manager for Fairway Physicians Insurance Company and Risk Management Services, a third party claims administrator. The acquisition expands Thorson’s risk bearing capabilities allowing it to underwrite niche insurance and capitalize on selective profitable underwriting opportunities across selected property and casualty insurance markets.

TAG Financial Institutions Group, LLC advised on the acquisition of PrimeOne for Thorson.  The Transaction closed on December 31, 2014.


August 2014

August 1, 2014

Gregory Nelson Joins TAG Financial Group as Principal

TAG Financial Institutions Group, LLC is pleased to announce that Gregory D. Nelson has joined the firm in a senior investment banking capacity as Principal.

Prior to joining TAG Financial, Mr. Nelson was responsible for managing the day-to-day operations of U.S. RE Securities, LLC, a boutique investment banking firm focused exclusively on providing advisory and capital raising services to the insurance and reinsurance sectors.  Previously, Mr. Nelson was a member of the Financial Institutions Group of Bank of America Securities, where he was responsible for executing merger and acquisition transactions and public / private capital-raising assignments primarily for mid-cap and large-cap insurance industry clients.  He earlier gained substantial middle-market investment banking and corporate finance experience from previous investment banking roles at Friedman, Billings, Ramsey& Co. and Bear Stearns & Co.  Earlier in his career, Greg also served in corporate insurance industry financial positions with Allstate Insurance Company and Radian Group.


August 4, 2014

TAG Financial advises NFP on the acquisition of Poulos Insurance

National Financial Partners, a leading provider of benefits, property & casualty and life insurance and wealth management services, has acquired Poulous Insurance Inc. Poulos Insurance, with 19 office locations located throughout Vermont, New Hampshire and Massachusetts, is an independent full-service property and casualty firm providing local businesses and individuals throughout New England with personal and commercial lines coverage. TAG Financial Institutions Group, LLC initiated the Transaction and advised National Financial Partners on the acquisition.


July 2014

July 17, 2014

MedAR Finance closes on receivables purchase facility

TAG Financial structured a revolving receivables purchase facility to finance its strategy of purchasing workers compensation medical receivables.


 June 2014

June 1, 2014

TAG Financial Facilitates Sunshine State Insurance Company Renewal Rights Sale

Heritage Property & Casualty Insurance Company has acquired polices representing $29.4 million of unearned Premiums from Sunshine State. TAG Financial represented Sunshine State and facilitated the Renewal Rights Sale.

May 2014

May 1, 2014

TAG Financial Engaged By USRE

TAG Financial Institutions Group, LLC has been engaged by USRE Companies to provide advisory services relating to capital and strategic alternatives available to its troubled insurance subsidiary Sunshine State Insurance Company subsidiary.


May 1, 2014

RMS Programs Acquires the Renewal Rights of Indemnity Insurance

TAG Financial Institutions Group, LLC is happy to announce RMS Programs, LLC has acquired assets from Indemnity Insurance Corporation, RRG.  Indemnity Insurance wrote hospitality insurance for bars, taverns and nightclubs before being forced into liquidation in November 2013.  RMS Programs is continuing that business through its subsidiary, RMS Hospitality Group, LLCTAG Financial initiated the transaction and advised RMS on the purchase of these assets.


April 2014

April 7, 2014

Sunshine State Insurance Company Names TAG Financial Institutions Groups, LLC as Investment Banker 

(Jacksonville, Fla.  April 4th, 2014 — Sunshine State Insurance Company (SSIC) today named TAG Financial Institutions Group, LLC, to serve as its investment banking resource for the company’s near and long term plans, working in collaboration with U.S. RE Securities, LLC.

According to Joseph Braunstein, Chief Executive of  SSIC, two near term goals for the investment banking team include the addition of surplus reserves, following the Company’s recent Florida OIR filing that included a reclassification of some assets,  and the support for SSIC’s protracted expansion in the Florida market. Mr. Braunstein stated, “The Company’s excellent underwriting results, our strong professional staff, our established market presence due to a continued strong partnership with our agents and our soon to be announced new products suggest to us that we add capital to bolster the Company today and enable its growth in this marketplace in the future.  The professionals at TAG Financial have great depth and a working knowledge of our industry and have access to specific capital that will prove most meaningful for the growth of SSIC. We are quite optimistic.”

Steven Nigro, Managing Partner of TAG Financial, stated: “SSIC’s insurance operations and business plan are fundamentally solid and its unique franchise in the State of Florida has prompted a great deal of interest from strategic and financial suitors.  We look forward to working with the SSIC team and Greg Nelson of U.S. RE Securities so that they may continue to build this franchise”.

Sunshine State Insurance Company (SSIC) is a full-service insurance provider in Florida specializing in personal residential property insurance through homeowner’s policies, flood insurance and builders risk policies. As a Florida based insurance company in business since 1997, SSIC has weathered literally many storms with its customers. SSIC prides itself on understanding the unique demands of property insurance in Florida and is known for its careful, times taking approach to ensuring that policies are tailored to match client needs. Collectively SSIC boasts more than 180 years of experience in the insurance industry, giving substance to support its pledge of providing the highest level of personal service with unmatched experience, knowledge and industry standing.  It is also one of Florida’s oldest insurance companies.For information contact CINN / Christina Claudio: 914 966 3180 ext 112 or Claudio@cinn.comAs published in on April 4th, 2014.


April 1, 2014

RMS Forms RMS Hospitality Group

RMS Insurance Brokerage, Inc. has formed and capitalized RMS Programs and will do business as RMS Hospitality Group, LLC. TAG Financial advised RMS, and advised on and negotiated reinsurance agreements.


February 2014

February 4, 2014

TAG Financial Facilitates Life Settlement Portfolio

TAG Financial is pleased to announce the closing of a purchase of a $112,000,000 life settlement portfolio by Madison Strategic Partners on behalf of an unnamed client.TAG Financial arranged financing for the portfolio purchase.


January 2014

January 30, 2014

Assured Partners Purchases Airsure Limited

Assured Partners Inc. completed the acquisition of Airsure Limited.  Airsure is a Colorado based insurance agency and market leader specializing in property and casualty insurance and risk management services for aviators and aviation businesses.Assured Partners Inc., a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London.TAG Financial initiated the transaction, sourced Airsure, and represented Assured Partners.

As published in AssuredPartners Press Release on February 5, 2014: Acquisition of Colorado and Texas-based insurance agency expands AssuredPartners’ capabilities for serving businesses in the aviation industry

AssuredPartners, Inc. has completed the acquisition of AirSure Limited, LLC. The agency specializes in insurance coverage, employee benefits and risk management services for businesses in the aviation industry, including commercial operations, corporate aircraft services and helicopters. AirSure Limited reports revenues of approximately $13 million.Founded in 1984, AirSure Limited is headquartered in Golden, Colo., with additional operations in Plano, Texas. The acquisition marks AssuredPartners entrance into the Colorado and Texas markets.

“Joining AssuredPartners gives AirSure Limited the backing of a national agency, while enabling us to provide our clients with the best insurance and risk management guidance,” said Bill Behan, CEO of AirSure Limited. “Our clients will continue to receive the same service they know and trust, while benefiting from new insurance tools and resources available through AssuredPartners.” As part of the acquisition, 35 AirSure Limited employees will join AssuredPartners. Operations will continue out of the Golden, Colo. and Plano, Texas office locations, under the local leadership of Behan. “As AssuredPartners continues to expand, we look for agencies that possess high levels of expertise, professionalism, and respect. AirSure Limited has a combination of real world aviation experience and deep insurance expertise,” said Jim Henderson, Chairman and CEO of AssuredPartners, Inc. “We welcome the AirSure Limited employees to the AssuredPartners family.”

AirSure Limited will become the eighth AssuredPartners platform entity, joining Neace Lukens, headquartered in Louisville, Ky.; SKCG, headquartered in White Plains, NY; Jamison, headquartered in West Orange, NJ; Dawson Companies, headquartered in Cleveland, Ohio; SRA, headquartered in Kansas City, KS; AHM, headquartered in St. Louis, MO.; and Commercial Insurance Services, headquartered in Charleston, W.Va. For more information, please visit:

About AssuredPartners: Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc., a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to approximately $310 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with more than 80 offices in 26 states and a London office. Since 2011, AssuredPartners has acquired more than 50 insurance firms. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or, or visit


Year 2013


August 21, 2013

TAG Financial Facilitates Life Settlement Portfolio

TAG Financial is pleased to announce the closing of a purchase of a $55,000,000 life settlement portfolio by Centurion Life Investments of Cincinnati Ohio. TAG Financial represented and assisted Centurion with this purchase from a Regional Credit Union.


November 14, 2013

TAG Financial hosts Governor Rick Scott: TAG Financial Institutions Group along Neff & Associates hosted a reception with Florida’s Governor Rick Scott on Wednesday November 13, 2013 for a group of clients and affiliates of TAG Financial.  At a crowded turnout, Governor Scott spoke passionately about the achievements of his first term and is vision for the next.


September 25, 2013

TAG Financial Institutions Group, LLC is pleased to announce that it is a sponsor at the 2013 National Risk Retention Association annual conference on October 1st – 3rd.  Steven Nigro, Managing Partner of TAG Financial will be speaking at the conference introducing the TAG Financial Risk Retention Group Funding Program, an alternative financing mechanism designed to provide capital to select risk retention captives writing profitable niche insurance business.


August 22, 2013

TFIG has partnered with a Bermuda based reinsurance company to offer Insurance-Linked Security products to institutional and qualified investors worldwide.  These programs have sparked considerable interest from a variety of investment groups looking to participate in non-correlated returns in the insurance market.


August 21, 2013

TFIG is pleased to announce the closing of a purchase of a $55,000,000 life settlement portfolio by Centurion Life Investments of Cincinnati Ohio.  TFIG represented and assisted Centurion with this purchase from a Regional Credit Union.


April 26, 2013

TAG Financial Institutions Group successfully advised IKON Management Services, LLC of Puerto Rico on its sale to National Financial Partners.

IKON Management Services managed the Employee Benefits Insurance Brokerage, Employee Benefits Insurance Administration, Outsourced Human Resources and Property & Casualty Insurance services for IKON Benefits, the largest provider of these services in Puerto Rico.

National Financial Partners Corp. (NYSE: NFP), and its benefits, insurance and wealth management businesses provide diversified advisory and brokerage services to companies and high net worth individuals.  Headquartered in New York City, NFP was ranked eighth on Business Insurance’s most recent 100 Largest Brokers of U.S. list.


April 24, 2013

TFIG’s Steven D. Stanton speaks at Intenational Life Settlements Conference

TFIG Senior Advisor Stephen D Stanton was a speaker on the importance of leverage to the asset class at this year’s International Life Settlements Conference. His topic included current terms available in the market  and existing deal flow that he is transacting on.

This year’s conference was the 5th annual mid-year gathering of the most active Life Settlement investors, investment bankers, hedge fund managers, providers, brokers and attorneys.  It featured two-days of practical education on how to best position yourself to profit as the market continues to recover, and understand how the life expectancy convergence will affect your business.


Year 2012 

December 16, 2012

TAG Financial Institutions Group welcomes Jeffrey K. Downey to the team. Click here for his full bio.