U.S. insurance brokerage Alliant Insurance Services has acquired Property Owners Protection Insurance Company, LLC (POPIC), a national captive program manager serving owners and managers of multifamily and single-family residential portfolios.
This acquisition aims to provide additional products and underwriting capabilities within the real estate sector to the broker’s Alliant Underwriting Solutions division. The team will join Alliant as part of the AUS division although terms of the acquisition were not disclosed.
Greg Zimmer, Chief Executive Officer, Alliant, commented on the acquisition, “POPIC has a proven track record of helping large property owners and managers assume moderate and manageable risk to grow their income.
“With a diverse team of CPAs, attorneys, and insurance and underwriting professionals, POPIC brings a wealth of experience and highly consultative approach to our growing underwriting practice.”
California-domiciled POPIC’s risk management solutions redirect revenue streams that historically have gone to carriers or other third parties back to property owners and managers.
Bill Mecklenburg, Senior Managing Director, Alliant Underwriting Solutions, commented, “The POPIC team has differentiated itself in the marketplace by combining strong institutional knowledge with a highly creative and results-driven approach.
“This will enable AUS to further diversify our services and expand our reach in residential real estate program administration.”
POPIC provides a comprehensive suite of services to its clients that includes structuring their captives, managing their programs, and administering tenant compliance.
Noah Molnar, CEO, POPIC, concluded, “Joining forces with Alliant provides our team with expanded capacity and a deep well of resources, which will help us provide an even higher level of service and responsiveness to multifamily clients nationwide.”
