Concert Group Holdings, Inc. (Concert) has announced that founding shareholder Freedom Underwriters LLC (Freedom) will acquire all outstanding shares from current shareholders WT Holdings, Inc. and Century Focused Fund IV, LLC.
The transaction requires regulatory approvals and is expected to close during the first half of 2026.
The ownership change follows a year of record premium growth for the company. Concert has built a diversified book of business and strengthened its management and administrative teams. In August, former chief actuary Sam LaDuca succeeded John Hendrickson as chief executive officer.
“We are encouraged and heartened by Freedom’s belief in Concert’s future as a leader in the fronting sector,” Concert chair Charles Slatery said. “Throughout our discussions with Freedom, it’s been clear that they have complete confidence in our management team and in the strategy for growth that Concert is executing.”
Freedom, backed by its original investors and Gryphon Holdings, LLC, has appointed Erin Brennan Bagley (pictured) to the board in place of founding director Brady Young, who has stepped down but will remain affiliated with Concert through Freedom. Gryphon Holdings is financed by affiliate Phoenix Merchant Partners.
“Erin’s expertise working with insurance company boards, as an advisor and as a director, and her significant transaction experience, make her a great representative for Freedom as the company undergoes this process,” Young said.
Slatery highlighted Bagley’s qualifications for the position. She has more than 20 years of experience in the insurance industry, including roles as a C-suite executive, consultant, and board director. She most recently served as chief legal officer at Coaction Specialty, a national 50-state admitted and E&S specialty carrier.
“I join Brady in noting the considerable strengths Erin brings to the board,” Slatery said. “Her industry and governance experience are an excellent complement to the other skills represented on our board.”
John Hendrickson has also resigned from the board.
“I want to extend the board’s sincere appreciation to Brady, as well as to John who has also resigned from the board, for all they’ve done to set Concert on the trajectory for success,” Slatery said.
LaDuca said the ownership transition reflects confidence in the company.
“This is an exciting development at Concert,” LaDuca said. “It’s always gratifying to see your belief in a company and its team reflected by its ownership. We’ve been the recipients of that confidence for the last four years and are grateful for the stewardship we’ve received from all three of our founding shareholders.”
