One80 Intermediaries

One80 Intermediaries is a specialty insurance brokerage firm with offices in the US and Canada. The firm was founded in 2019 in Boston, Massachusetts.

One80 Intermediaries

One80 headquarters at 160 Federal Street, Boston
Company type	Private company[1]
Industry	Insurance
Founded	2019; 5 years ago (2019) Boston, Massachusetts, US
Headquarters	Boston, Massachusetts[1] , United States
Area served	International
Key people	Matthew F. Power, President Ed Lopes, Chief Operating Officer (COO)
Services	insurance intermediary
Revenue	US$450 million (2023)[2]
Number of employees	1,797 (2023)
Website	www.one80intermediaries.com

The firm offers access to major insurance markets in USA, United Kingdom, Asia, and Canada, as well as in-house binding authority for property & casualty, financial lines, personal lines, life insurance, benefits, medical stop loss risks, travel/accident and health, affinity, and warranty coverage.

As of 2023^[update], it was ranked as the 5th largest MGA/underwriting manager/Lloyd's coverholder.^[3] As of July 2023^[update], One80 Intermediaries has acquired approximately 48 companies, and has an annual revenue of approximately $450 million. One80 has approximately 130 Carrier Relationships in the US, UK, Canada, and Asia. To compliment this, One80 has 105 In-house Underwriting Programs.

One80 Intermediaries has offices in approximately 55 locations including Boston, New York City, Chicago, Cleveland, Cincinnati, Miami, Atlanta, Houston, Dallas, San Antonio, Omaha, Mountain View, Philadelphia, San Diego, and Seattle; as well as offices in Toronto, Montreal, and Lachine, QC.

History

One80 Intermediaries, backed by private equity partners Kelso & Company and Goldman Sachs, was founded in 2019, and formally launched on January 7, 2020 ^[4] As of the second quarter of 2023, the firm had acquired 48 niche insurance platforms across the United States and Canada.^[5] and has extended its offerings to include wholesale brokerage, national programs, contract binding, affinity and administrative services and specialty insurance.

Acquisitions

Major acquisitions include:

• Select Insurance Markets^[6]
• Maritime Program Group^[7]
• International Excess Program Managers^[8]
• Strategic Underwriting Managers, Inc.^[9]
• Safeware, Inc.^[10]
• Cannasure Insurance Services^[11]
• Pearl Insurance^[12]
• Professional Risk Solutions^[13]
• SelmanCo^[14]
• C & M First Services, Inc.^[15]
• Manchester Specialty Programs^[16]

Services

Services of One80 Intermediaries include:

• National Wholesale Brokerage
• National Program Business
• Contract Binding
• Affinity and Administrative Services
• Specialty Insurance

The One80 Intermediaries platform consists of five key pillars: of National Wholesale Brokerage, Program Business, Contract Binding, Affinity and Administrative services and Specialty Insurance. These business verticals serve private and public sector businesses, non-profits, individual insureds and affinity businesses.

Rankings

• 8th Largest Specialty Intermediary (Business Insurance, 2022).^[17]
• 5th Largest MGA/Underwriting Manager/Lloyd's Coverholder (Business Insurance, 2022)^[3]
• 5th Largest Underwriting Manager (Business Insurance, 2022)^[18]

References

1. "About One80 Intermediaries". One80 Intermediaries. July 15, 2023.
2. "Matt Power: One80 on course to reach $500mn revenue this year". The Insurer. July 11, 2022.
3. "Largest MGAs/underwriting managers/Lloyd's coverholders". Business Insurance. January 1, 2023.
4. "One80 Intermediaries Announces Company Launch" (Press release). January 7, 2020.
5. Jason Contant (August 11, 2020). "U.S. wholesale broker expands into Canada with acquisition of SUM". Canadian Underwriter.
6. "Select Insurance Markets". Retrieved July 18, 2023.
7. "One80 Intermediaries Acquires Maritime Program Group". One80 Intermediaries. December 10, 2019.
8. "One80 Intermediaries Acquires International Excess Program Managers". Cision PR Newswire. April 7, 2020.
9. "One80 Intermediaries Establishes International Footprint With Acquisition of Strategic Underwriting Managers, Inc". Cision PR Newswire. August 11, 2020.
10. "One80 Intermediaries Enters Warranty Business With Acquisition of Safeware". GlobeNewswire (Press release). December 15, 2020.
11. "One80 Intermediaries Expands Cannabis and Hemp Practice with the Acquisition of Cannasure Insurance Services". Cision PR Newswire. March 9, 2021.
12. "One80 Intermediaries Extends Insurance Platform to Associations and Unions Throughout the United States With the Acquisition of Pearl Insurance". BusinessWire. January 18, 2022.
13. Pete Carvill (February 18, 2022). "One80 acquires Professional Risk Solutions". Reinsurance News.
14. "One80 Intermediaries Deepens Affinity Business With Acquisition of SelmanCo". BusinessWire. July 6, 2022.
15. "One80 Intermediaries Launches Asian American Distribution Practice With Acquisition of C&M First Services, Inc". BusinessWire. September 27, 2022.
16. "One80 Intermediaries Expands Offerings for Allied Health Care With the Acquisition of Manchester Specialty Programs". BusinessWire. March 14, 2023.
17. "Largest specialty intermediaries". Business Insurance. January 1, 2023.
18. "2023 Agents and Brokers RANKINGS + DIRECTORY". Business Insurance. July 12, 2023.

Further reading

• One80 2022 Annual report