10 July 2024

Novatae Risk Group, the wholesale operations of World Insurance Associates, has acquired the assets of Denali Speacialty Group, a St. Louis, Missouri-based full-service intermediary founded in 2019.

Denali has a primary niche in ivestment properties and an additional focus on cannabis, excess workers compensation, and student housing.

The organisation is led by president and CEO Michael Eichhorn, along with delegated authorities president Kerri Senger and brokerage operations president Paul Krutek.

"As a firm, we are highly focused on the relationship side of the business and by focusing on niche programs and specialty lines business, we can provide our distribution partners the subject matter experts they need to succeed in today's competitive marketplace environment," said Eichhorn.

"We look forward to continuing this focus as part of Novatae," he added.

As The Insurer revealed in 2019, Denali was launched as an MGA and wholesale brokerage platform by Eichhorn, who most recently before that was underwriting president at wholesaler Keating.

It added Senger from Breckenridge in early 2020, and Krutek from RPS later that same year.

"Michael and the Denali team bring deep expertise in program development," said Novatae CEO Richard Kerr.

"Their exclusive investor property program has allowed them to become one of the fastest-growing property MGAs in the country."

He added: "Mike and his team will bring new facilities and additional underwriting talent to the Novatae Group."

Giordano, Halleran & Ciesla provided legal counsel to Novatae, and MarshBerry advised Novatae. McCarthy Leonard & Kaemmerer provided legal counsel to Denali.

World Insurance Associates in November 2022 consolidated its wholesale business under the Novatae banner. Later that month it announced that it had acquired Dallas-based MGA and wholesale broker MarketScout, and installed the acquired firm's leader Kerr as CEO of Novatae.

View this article here: https://www.program-manager.com/interview/worlds-novatae-acquires-eichhorn-led-wholesale-broker-denali/

Contact This email address is being protected from spambots. You need JavaScript enabled to view it. for a 15% discount on The Insurer (code PM22) and its sister titles – Program Manager and E&S Insurer.