CHICAGO, Illinois, June 2, 2021 – Concert Group Holdings, Inc. (“Concert”), a newly formed business dedicated to insurance fronting, today announced that it has secured agreement to raise additional capital from its founders, Brady Young, CEO/founder of Strategic Risk Solutions, Inc. (“SRS”); Wes Duesenberg, Jr., CEO of Southern Insurance Underwriters (“SIU”); and Christopher Collins, CEO/founder of Corinthian Re, in partnership with Century Equity Partners and WT Holdings, Inc.
Concert will provide access to the U.S. insurance market for both traditional products and alternative risk transfer structures.
Concert has successfully completed the acquisition of CEM Insurance Company, which will serve as one of the growth platforms for Concert's operations. CEM Insurance Company has been renamed Concert Insurance Company and is a licensed admitted insurer domiciled in Illinois.
Oppenheimer & Co. served as exclusive financial advisor to Concert. Morris, Manning & Martin, LLP was legal advisor to Concert and Foley & Lardner LLP acted as lead counsel to the investors.
About Concert Group Holdings, Inc.
Concert Group Holdings, Inc. is a privately owned insurance holding company, which, through its wholly owned subsidiary, Concert Insurance Company, offers insurance fronting and related services in the United States.
About Century Equity Partners
Century Equity Partners (“Century”) is a private equity firm principally investing in companies that provide services, solutions, or distribution to the financial services industry. Century’s primary focus within financial services is on the insurance (property-casualty, life and annuity, employee benefits, and health), asset and wealth management, and banking and lender services sectors. More information is available at www.cepfunds.com
About WT Holdings, Inc.
WT Holdings, Inc. is a privately owned insurance holding company offering personal and commercial property and casualty insurance nationwide through its subsidiaries. WT Holdings was formed in 2007 and is based in Memphis, Tennessee.