Specialty lines underwriting manager U.S. Risk and program administrator Safehold Special Risk have announced the combination of their business operations under a new unified brand, Innovation Growth Partners Specialty LLC.
The combined entity, IGP Specialty, will oversee programs, wholesale, and managing general agent divisions. According to the companies, IGP Specialty manages more than $1.6 billion in premium and employs 650 people across offices in 17 states. Its portfolio includes over 30 specialty programs.
Alex Furlong (pictured above), president of wholesale and MGA, said in a statement that the new organization will provide agents with "a single, powerful platform to access specialty markets and expertise." The company said IGP Specialty will encourage innovation through programs, exclusive coverages, and solutions that adapt to changing market needs.
IGP Specialty also aims to help agents expand their books and support clients in growing their businesses. The company stated that the new structure will promote partnerships among carriers, clients, and agents.
This year also saw other insurance entities in the US consolidating operations to address evolving market demands. Lockton merged its US-based Lockton Financial Services and International ProFin teams to form Lockton Professional and Executive Risk, bringing together more than 750 associates under one platform.
Insurance networks and alliances have become increasingly important for agents in the US, as many join these groups to access a wider selection of carriers and products, as well as to benefit from collective branding and marketing initiatives.
In 2025, 88.3% of surveyed agents cited access to a broader range of insurance carriers and products as their main reason for joining networks, up from 75% the previous year.
The trend of combining operations and forming alliances is partly driven by the need to respond to rapid changes in distribution, increased digitalization, and the growing influence of data and artificial intelligence in the insurance industry. Companies are consolidating expertise and resources to remain competitive and meet evolving client expectations.
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