News & Insights

News & Insights

Why you Should Consider Selling Your MGA in 2021

As a company actively engaged in acquiring niche insurance underwriting and distribution companies like MGAs and Program Administrators, one of the first questions a potential seller asks is, “Why should I consider selling now, versus waiting a few more years when my business is bigger?”  There are, of course, a multitude of answers to this question, but most include the term “may or may not.” (read more)

DOXA Insurance Holdings acquires two Accident & Health Scholastic Insurance Providers

April 9, 2020, Fort Wayne, IN, USA — Leading specialty insurance agencies Lawrence E. Smith & Associates (LESA) of greater St. Louis, MO, and Scholastic Insurance of Florida (SIF) of greater Orlando, FL, have jointly announced their respective acquisitions by DOXA Insurance Holdings, LLC (DOXA). Each agency will continue operations under the leadership of Larry Smith and his son, Lane Smith, respectively, as well as retaining their individual brand names within the scholastic insurance markets they serve in nine Midwestern and southern states. (read more)

DOXA Insurance Holdings acquires Ultra Risk Advisors

February 17, 2020, Bellevue, WA, USA — Ultra Risk Advisors, a wholesale broker with a focus on non-standard physicians, correctional healthcare, human services, aging services, and miscellaneous medical facilities, has announced its acquisition by DOXA Insurance Holdings, LLC (DOXA).  Ultra Risk Advisors will continue its operations under the leadership of Chris Randall and his staff, and retain the Ultra Risk Advisors name. “We are excited to have Chris Randall and his team join the DOXA family”, states Matt Sackett, DOXA CEO.  “From our first interactions with Chris, we immediately realized that Ultra Risk Advisors shares many of the same philosophies as DOXA, specifically, the mission to understand the industries we serve to a level where we are recognized as experts, provide these industries with quality products and services with efficient processes that exceed our client’s expectations. (read more)

Insurance Veteran Bill Vit appointed to DOXA Board of Directors

October 15, 2019, FORT WAYNE, INDIANA – DOXA INSURANCE HOLDINGS, LLC., a Midwest-based private holdings company acquiring medium to small managing general agencies (MGAs), program administrators and specialty underwriting companies, has announced the appointment of senior insurance executive Bill Vit to the company’s board of directors. He brings more than 40 years of insurance industry expertise, most notably as the head of Aon Affinity’s Business practice that grew from $250MM revenue to $500MM revenue under his leadership. “We are especially pleased to welcome Bill to lend his experience to our team,” commented Matt Sackett, CEO of DOXA Insurance Holdings. (read more)

DOXA Insurance Holdings Announces its Acquisition of Financial Risk Solutions and Chill-Pro® Insurance Program

July 8, 2019, Fort Wayne, Indiana — Financial Risk Solutions, Inc., parent of the Chill-Pro® Insurance Program that provides comprehensive commercial HVAC service contract insurance and product warranty insurance, has announced its acquisition by DOXA Insurance Holdings, LLC (DOXA). Financial Risk Solutions will maintain operations under the leadership of Jim Wilson and the staff, retain the Financial Risk Solutions and Chill-Pro® names, and remain headquartered in Chicago, IL. The acquisition of Financial Risk Solutions follows DOXA’s two previous acquisitions of MGAs seeking succession plans. (read more)

DOXA Insurance Holdings acquires Chatham Insurance Services

July 1, 2018, Schaumburg, IL, USA — Chatham Insurance Services, Inc. (Chatham), the largest independent provider of Errors and Omissions insurance to the Managed Care industry, has announced its acquisition by DOXA Insurance Holdings, LLC (DOXA).  Chatham will continue its operations under the leadership of Jeff Stetson and his staff, retain the Chatham name, and remain headquartered in Schaumburg, IL. “This is an exceptional opportunity for us to lay the foundation for the next generation of Chatham,” stated Jeff Stetson, President. (read more)

Specialized Insurance Underwriter Launches Partnership with A++ Carrier Partner

Chicago, IL, March 2, 2018 — Effective immediately, Promont Insurance Advisors will offer competitive renewal and new business quotations for Allied Health and Churches & Schools programs with their new A++ Carrier Partner. The partnership will provide coverage through one of the most financially secure insurance companies and is an important part of Promont’s commitment to professional and proficient customer service. The new partnership offers similar rates and coverages, and, in many cases, includes expanded product offerings. ProPoint Claims, Promont’s wholly-owned Claims Third Party Administrator, will continue handling claims for Promont’s Allied Health and Churches & Schools Programs, enabling Promont’s insureds to continue receiving Promont’s industry-leading claims service. (read more)

Promont Advisors and ProPoint Claims Services join DOXA Insurance Holdings

Fort Wayne, Indiana, May 12, 2017 – DOXA INSURANCE HOLDINGS, LLC., an Indiana based company focused on purchasing Managing General Agents nationwide, is pleased to announce the acquisition of Promont Advisors and ProPoint Claims Services. Chicago-based Promont and Propoint specialize in providing insurance and claims administration for difficult classifications of business in the allied health space, along with hard-to-place religious institutions, hotels, motels, apartment complexes, and professional liability. Both organizations are recognized for their in-depth general liability and property underwriting expertise for the businesses they insure. (read more)

Tim Wiggins Joins New MGA-Focused Holding Company as Chief Operating Officer and Managing Partner

Fort Wayne, Indiana, June 6, 2016 — DOXA Insurance Holdings, LLC (DOXA), a Midwest-based, MGA-focused holding company launched in April 2016, announced Timothy Wiggins as Chief Operating Officer and Managing Partner. Mr. Wiggins brings nearly 22 years of insurance-oriented IT and operations experience into the DOXA organization, having held the positions of VP of Operations & CIO at The Medical Protective Company (Berkshire Hathaway), several IT leadership roles with GE Insurance, and various consulting roles with EDS Insurance (now HP Enterprise Services). By design, DOXA partners with and acquires managing general agents (MGAs) that focus on specialty commercial property and casualty niches. (read more)

Specialty Insurance Veteran Introduces New MGA-Focused Holding Company

Fort Wayne, Indiana, April 11, 2016 — A group of investors led by Matthew Sackett, former senior vice president of national sales for K&K Insurance and former president and CEO of Leisure Sports Specialists, has announced the formation of DOXA Insurance Holdings, LLC (DOXA). DOXA is a company built to partner with and acquire managing general agents (MGAs) that focus on specialty commercial property and casualty niches. The company is based in Fort Wayne, Indiana, and may be reached at (260) 437-0091 or online at www.DoxaInsurance. (read more)