Novatae Risk Group has acquired the assets of Specialized Program Solutions (SPS), a Chester, New Jersey-based managing general agency specializing in commercial trucking insurance.
The transaction was completed on August 1, 2026. Financial terms were not disclosed.
Founded in 2022, SPS specializes in underwriting, marketing and program administration for long-haul trucking risks throughout the United States. The company uses a proprietary technology platform, real-time data and portfolio management tools to support its underwriting process.
Christopher Daggett, CEO of SPS, said the company was established to improve trucking insurance underwriting by combining technology, comprehensive data and underwriting discipline. He said joining Novatae will provide additional resources to expand that approach while maintaining SPS’s focus on service and specialized expertise for agents and insureds.
The acquisition adds to Novatae’s existing transportation and specialty program capabilities.
Josh Taylor, managing director at Novatae, said SPS has developed a strong specialty insurance platform in a relatively short period. He pointed to the company’s technology-driven underwriting approach, experience in the trucking market and focus on disciplined growth as factors that made SPS a good fit for Novatae.
As part of Novatae, SPS will bring its trucking insurance expertise, technology and underwriting capabilities to the larger specialty insurance platform.
Giordano Halleran Ciesla provided legal counsel to Novatae in connection with the transaction. No additional advisors or diligence firms were disclosed.
Information for this article was provided by Novatae Risk Group. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
