Operating Company Financial Services

Specialty Program Group

Chicago, Illinois, United States

Specialty Program Group (SPG) delivers specialty expertise backed by digital capabilities, data, and analytics to serve customers and carrier partners. SPG operates specialty MGA/underwriting management, wholesale and retail insurance brokerage, and insurance program/administration platforms, consolidating multiple specialty brands under the SPG umbrella.

Focus Areas
Specialty insurance distribution, Wholesale insurance brokerage, Underwriting management

Tracked deals

19

19 tracked deals across 2016-2026.

Recent pace

3

3 tracked deals announced in the last 12 months.

Deal mix

Addon

10 addon · 7 buyout · 2 divestiture

Specialty Program Group Acquisition Volume by Year

Last 7 years

Acquisition volume by year Annual acquisition counts for the last 7 years for Specialty Program Group. 2 2020 1 2021 4 2022 4 2023 3 2024 1 2025 ~4 est. 3 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

Showing the 12 most recent of 19 tracked deals for Specialty Program Group.

  • Buyer
    Specialty Program Group LLC
    Target
    HCM Unlocked, LLC
    Industry
    IT Services
    Type
    Buyout

    Specialty Program Group (SPG) acquired HCM Unlocked, a technology-enabled managed service provider focused on human capital management (HCM). The deal expands SPG’s employee benefits and workforce services platform with managed HR and payroll services, compliance/leave of absence capabilities, and HCM technology powered by HCM Unlocked’s AI-enabled DELTA platform.

  • Buyer
    Specialty Program Group LLC (SPG)
    Target
    Proper Insurance (Proper)
    Industry
    Insurance
    Type
    Buyout

    Specialty Program Group LLC (SPG) acquired Proper Insurance, a provider of insurance solutions tailored to short-term rental properties. Proper, founded in 2014 and based in Bozeman, Montana, offers a commercial policy designed to replace traditional homeowners or landlord coverage for hosts and professionally managed portfolios.

  • Buyer
    Specialty Program Group LLC
    Target
    Logistiq Insurance Solutions
    Industry
    Insurance
    Type
    Addon

    Specialty Program Group LLC (SPG) acquired Logistiq Insurance Solutions and is integrating it with Anova Marine Insurance to create a unified Cargo & Logistics insurance platform under SPG Transportation. The deal expands SPG’s marine, domestic transportation, and risk-intelligence capabilities, combining automated underwriting, cargo theft/supply-chain security expertise, and broader distribution to serve freight forwarders, 3PLs, and motor carriers.

  • Buyer
    Specialty Program Group LLC (SPG)
    Target
    ANOVA Marine Insurance Services, LLC
    Industry
    Insurance
    Type
    Addon

    Specialty Program Group LLC (SPG) has acquired ANOVA Marine Insurance Services, LLC, a South Florida–based managing general agency specializing in cargo, transportation and logistics insurance. ANOVA will continue to operate under its founder Bradford Boyd and will leverage SPG’s distribution, carrier relationships and technology to scale its marine and logistics insurance capabilities.

  • Buyer
    Monarch E&S Insurance Services, Specialty Program Group LLC
    Target
    Commercial Sector Insurance Brokers, LLC (CSIB)
    Industry
    Insurance
    Type
    Addon

    Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has acquired the assets of Commercial Sector Insurance Brokers, LLC (CSIB), a Birmingham-based E&S wholesale broker and contract binding specialist. The transaction expands Monarch E&S's contract binding capabilities and specialty placements (notably in mining and coastal property) and integrates CSIB's management team and broker relationships into Monarch's national offering.

  • Buyer
    Specialty Program Group LLC (SPG)
    Target
    Buttine Underwriters Agency LLC (BUA)
    Industry
    Insurance
    Type
    Addon

    Specialty Program Group LLC (SPG), a Chicago-based specialty insurance platform, has acquired the assets of Buttine Underwriters Agency LLC (BUA), a New Hampshire-based managing general agency specializing in event cancellation and prize & promotion insurance. The acquisition is an add-on to SPG’s portfolio aimed at expanding its sports and entertainment vertical, product capabilities and distribution reach.

  • Buyer
    Specialty Program Group LLC
    Target
    Disaster Recovery Services, LLC, Disaster Recovery & Risk Solutions, LLC
    Type
    Addon

    Specialty Program Group LLC (SPG), a Chicago-based specialty insurance platform, has acquired the assets of Disaster Recovery Services, LLC and its affiliate Disaster Recovery & Risk Solutions, LLC (collectively DRS). The acquisition expands SPG's capabilities into disaster preparedness, response and recovery consulting — including FEMA recovery, forensic accounting, construction project management, and grant administration — to better serve commercial and public-sector clients.

  • Buyer
    Specialty Program Group LLC (SPG)
    Target
    Insurance Allies LLC
    Seller
    Insurance Allies LLC
    Industry
    Insurance
    Type
    Addon

    Specialty Program Group LLC (SPG) has acquired the assets of Insurance Allies LLC, the operator of AxeThrowingInsurance.com and related niche insurance brands. The acquisition brings Insurance Allies' tailored sports and entertainment coverage (serving ~700 venues) into SPG’s specialty insurance platform to expand its capabilities in sports, entertainment and recreational venue insurance.

  • Buyer
    Specialty Program Group LLC (SPG)
    Target
    Agency Two Insurance Marketing Group, LLC (d/b/a AgencyONE)
    Seller
    Agency Two Insurance Marketing Group, LLC
    Type
    Addon

    Specialty Program Group LLC (SPG) has acquired the assets of Agency Two Insurance Marketing Group, LLC (d/b/a AgencyONE), a Brokerage General Agency focused on life, annuities, disability and long-term care insurance. The deal brings AgencyONE's principals and underwriting and advanced-planning capabilities into SPG's life & annuity distribution network, expanding resources for financial advisors and augmenting SPG's existing BSMG division.

  • Buyer
    Specialty Program Group LLC (SPG), Hub International
    Target
    Squaremouth, LLC
    Industry
    Insurance
    Type
    Buyout

    Specialty Program Group LLC (SPG) has acquired Squaremouth, a St. Petersburg-based travel insurance digital marketplace, to expand SPG’s digital distribution and e‑commerce capabilities in travel insurance. The acquisition brings Squaremouth’s digital quoting and comparison platform and large carrier portfolio into SPG’s portfolio (SPG is affiliated with Hub International in some reports).

  • Buyer
    Specialty Program Group LLC
    Target
    Euclid Specialty Managers, LLC (d/b/a Euclid Fiduciary)
    Seller
    Euclid Insurance Services, Inc.
    Industry
    Insurance
    Location
    United States

    Specialty Program Group LLC (SPG) has acquired the assets of Euclid Specialty Managers, LLC, d/b/a Euclid Fiduciary, from Euclid Insurance Services, Inc. The acquisition brings Euclid Fiduciary's fiduciary liability underwriting capabilities onto SPG's specialty insurance platform; MarshBerry served as financial advisor to Euclid Fiduciary.

  • Buyer
    Specialty Program Group, LLC (SPG)
    Target
    Business Underwriters Associates, LLC (BUA)
    Type
    Addon

    Specialty Program Group, LLC (SPG) has acquired the assets of Business Underwriters Associates, LLC (BUA), a Northeast Ohio-based brokerage general agent specializing in life, annuities, disability and health insurance. The deal is the second acquisition in SPG's strategy to build a BGA-driven life and annuity wholesale platform alongside its prior acquisition of Brokers' Service Marketing Group (BSMG).

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