New York, NY and Princeton, NJ (September 2, 2016) – International broker and risk management firm Integro Insurance Brokers today announced the acquisition of Insurance Revolution, Inc., the parent company of Maloy Risk Services, Inc., a niche insurance retail broker; and Piedmont Managers, LLC, a Lloyd’s cover holder for hedge fund management liability and technology E&O insurance products.
Maloy’s specialty practices include: financial institutions, including hedge fund, mutual fund, registered investment advisers, venture capital and private equity firms. Additionally, the firm is highly regarded in the technology and life science industries working with both private and public companies.
Insurance Revolution was created in 1999 as the parent platform for Maloy, established in 1872 in downtown New York; and Piedmont Managers, created in 2014. Maloy’s Financial, Life Science and Technology teams will operate as part of Integro’s Risk Management Division, while Piedmont Managers will continue to operate within the same division.
“Rick Maloy and his specialist team bring much to Integro, including considerable expertise in creating customized risk management solutions for underserved risks,” said Bill Goldstein Integro CEO. “In addition, the team’s innovation is well known, as evidenced by a bespoke management liability product they developed that is having significant impact in the hedge fund market place. We are delighted for Integro and our clients in a number of industries that stand to benefit from the experience and knowledge the team adds to Integro.”
On selecting Integro Insurance Brokers, Rick Maloy, founder of Maloy Risk Services, said, “Integro shares our specialty practice mentality and embodies an entrepreneurial spirit consistent with Maloy’s. Integro’s philosophy, like ours, is all about developing solutions to fit each client’s specific needs, clearly making this a great cultural and strategic fit. Our clients will benefit greatly from Integro’s scale and resources, while our expertise will add value to their clients within our target sectors.”
About Insurance Revolution
Insurance Revolution, through Maloy Risk Services, Inc. and Piedmont Managers, LLC, specializes in providing risk management and insurance placement services. Maloy Risk Services is located at 204 Rockingham Row, Princeton, NJ 08540, phone: 800.858.0110, www.maloyrs.com
Integro is an international insurance brokerage and risk management firm. Clients credit Integro’s superior technical abilities and creative, collaborative work style for securing superior program results and pricing. The firm's acknowledged capabilities in brokerage, risk analytics and claims are rewriting industry standards for service and quality. Launched in 2005, Integro and its family of specialty insurance and reinsurance companies, some having served clients for more than 150 years, operate from offices in the United States, Bermuda, Canada, and the United Kingdom. Its U.S. headquarter office is located at 1 State Street Plaza, 9th Floor, New York, NY 10004. 1-877-688-8701. www.integrogroup.com
Betsy Van Alstyne