Tangram Insurance Services, Inc., an independent managing public agency and program manager, has acquired Preferred Reinsurance Brokers, marking an expansion of the reinsurance brokerage market.
Founded in 1983, Preferred Re is a reinsurance broker and advisor that works with companies of all sizes. The firm has three main practice areas: traditional reinsurance placements, developing specialized underwriting programs for MGAs and MGUs, and providing alternative risk provisioning capacity to entities.
Rekha Skantharaja, President and CEO, Tangram Insurance Services, commented on the acquisition: “This has been an important and exciting acquisition for Tangram. With the addition of the Preferred Re team, we have significant talent and credibility in the reinsurance space.
“Preferred Re will support the development of Tangrams programs and will continue to partner with other independent program managers to build and develop specialized insurance programs.”
Preferred Re’s business partners include a variety of local, Bermudian and European carriers.
Bob Sanders, who has more than five decades of industry experience and currently serves as President of Preferred Re, will continue to lead Tangram’s reinsurance operations.
Sanders added: “I wasn’t sure how the ownership change would impact our group after being together for over 40 years. But from the beginning, the Tangram team felt like a family, and as a result we received numerous offers and opportunities even before the deal was completed. We’re excited for the next chapter of Work alongside this highly knowledgeable and professional team.
