Alliant Insurance Services has acquired California-based Property Owners Protection Insurance Company (POPIC), a national captive services company focused on multifamily and single-family residential portfolios. The terms of acquisition have not been disclosed.
POPIC provides a range of services to clients that includes structuring captives, managing programmes, and administering tenant compliance.
“The POPIC team has differentiated itself in the marketplace by combining strong institutional knowledge with a highly creative and results-driven approach,” said Bill Mecklenburg, senior managing director at Alliant Underwriting Solutions (AUS).
“This will enable AUS to further diversify our services and expand our reach in residential real estate program administration.”
The POPIC team will join Alliant as part of the AUS division.
Noah Molnar, CEO of POPIC, said that joining forces with Alliant will provide his team with expanded capacity and a “deep well” of resources.
In April last year, Alliant Insurance Services launched Alliant Re, a reinsurance brokerage division, which will include offering captive reinsurance solutions.
In June, Seth Madnick, managing director of the captive group at Alliant Insurance Services, told Captive Intelligence that the company had seen exceptional growth within its captive division over the past 18 months.