Dallas-based Novatae Risk Management has acquired Ajax Specialty Insurance, a wholesaler located in Atlanta. This move is part of Novatae’s strategy to expand its reach in the insurance market.
Ajax Specialty Insurance was founded in 2012 by Andy Bierbaum, who later brought on Karen Kutger as a co-owner in 2018. The company focuses on providing access to non-admitted markets and offers support for client meetings, proposals, coverage comparisons, and marketing for various types of liability insurance, including professional, management, and technology/cyber liability.
Novatae Risk Management operates as a wholesale brokerage and a managing general agency. The company specializes in offering insurance products for challenging and hard-to-place risks. Their offerings cover a wide range of areas, including property, casualty, workers’ compensation, cyber, and environmental insurance. With around 6,000 clients and 27 offices across the United States, Novatae is well-positioned in the insurance landscape.
This acquisition is expected to enhance Novatae’s capabilities and broaden its service offerings, allowing it to better serve its clients and tap into new markets. The combination of Novatae’s extensive resources and Ajax’s specialized knowledge could lead to innovative solutions in the insurance sector.