CHICAGO — Monarch E&S Insurance Services (Monarch E&S), a division of Specialty Program Group LLC (SPG), announced today its acquisition of Market Finders, Inc. (MFI), a respected managing general agent and wholesale broker headquartered in Albuquerque, New Mexico. This acquisition furthers Monarch’s strategy of partnering with high-performing, regionally established MGAs and expands its reach across the Southwest.
Founded in 1971, Market Finders has a long-standing reputation as the go-to MGA in New Mexico. With access to more than 30 markets (many on a binding authority basis), MFI specializes in both personal and commercial lines, including transportation risks. Led by President Steve Shaffer, the company has built a strong network of retail agents and is known for its ease of doing business and commitment to client relationships.
“Market Finders has been a pillar in the MGA community for over five decades, and we’re proud to welcome them to the Monarch family,” said Derek Borisoff, CEO of Monarch E&S. “Their underwriting expertise, deep carrier relationships, and strong presence in the Southwest align perfectly with our commitment to delivering market-leading solutions with local insight. Together, we’ll unlock new growth opportunities while maintaining the high level of service our brokers and carriers expect.”
Steve Shaffer, President of Market Finders, added: “After careful consideration, Monarch stood out as a partner that truly understands the independent MGA model and values the legacy we’ve built. Their scale, resources, and market access will allow us to offer our agents even more solutions while preserving our local service model. We’re excited for what’s ahead.”
This partnership strengthens Monarch’s position as a national contract binding and wholesale brokerage leader and enhances its ability to serve agents with a broader, more competitive product suite.
SOURCE Specialty Program Group
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