Dealer BRP makes acquisitions in NY, Maryland – Enterprise Insurance

Broker BRP Group Inc. announced on Friday that its Millennial Specialty Insurance LLC unit has acquired FounderShield LLC, AlphaRoot LLC, ReShield LLC and Scale Underwriting Services LLC, collectively known as Founder Shield, a New York-based insurtech company.

The terms of the transaction, which is expected to close on or about August 1, 2021, have not been disclosed.

Founder Shield has annual sales of approximately $ 9.8 million and is the BRP Group's seventh deal in 2021, the statement said Friday.

Founder Shield is focused on online purchasing and insurance management for high growth businesses. The company's 50 or so colleagues will switch to BRP.

In a separate statement on Friday, the BRP Group announced that it has acquired TCG Financial Holding Co. LLC, a Bethesda, Maryland-based broker for small and medium-sized groups, including government procurement, technology and nonprofits.

The terms of the transaction, which is expected to close on or about August 1, 2021, have not been disclosed.

The deal, which will move more than 50 employees to BRP, "adds size and density in the critical metro region of DC," BRP said in its statement.

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