#United States #Atlanta #Insurance Acquisition #Ajax Specialty #Novatae Risk

Novatae Risk Group Expands with Acquisition of Ajax Specialty Insurance

On April 10, 2025, Novatae Risk Group announced its acquisition of the assets of Ajax Specialty Insurance, a prominent player in the risk management and professional liability insurance sectors. This strategic move, completed on March 1, 2025, is expected to significantly enhance Novatae's offerings in the competitive insurance marketplace.

Founded in 2012 by Andy Bierbaum, Ajax Specialty Insurance specializes in diverse areas including Directors and Officers Insurance (DO), Errors and Omissions Insurance (EO), and Cyber Liability coverage. Over the years, Ajax has garnered a reputation for its personalized approach to risk management, ensuring clients receive coverage that is tailored to their unique needs. Co-owner Karen Kutger joined Bierbaum six years after the company’s inception, strengthening the firm’s capability in providing expert insurance solutions.

According to Bierbaum, the cornerstone of Ajax's methodology lies in its commitment to understanding each client’s risk profile and corporate structure. This meticulous approach—alongside Ajax's extensive knowledge of coverage options and market trends—has enabled them to secure comprehensive coverage for various clients. "We look forward to continuing this approach as part of Novatae," Bierbaum expressed, emphasizing a seamless transition for existing Ajax clients.

Richard Kerr, CEO of Novatae Risk Group, praised the Ajax team for their exceptional expertise in management and professional liability insurance. He highlighted that the integration of Ajax's capabilities in DO, EO, and Cyber Liability will complement Novatae’s existing product line, allowing the firm to better serve its clientele across various sectors.

Moreover, the legal details surrounding this acquisition were counselled by Giordano Halleran Ciesla, while MarshBerry provided advisory services to Novatae. For Ajax, legal counsel was provided by Frost Brown Todd LLP. While the financial details of the transaction remain confidential, the implications for both businesses are promising, particularly in enhancing their market positions.

Novatae Risk Group operates as a full-service wholesale insurance brokerage and general agency, dedicated to offering specialty insurance products and services tailored for complex and hard-to-place risks. With a robust portfolio that spans property, casualty, workers' compensation, and environmental risks, Novatae stands as a reputable entity in the insurance landscape, serving over 6,000 clients from 27 offices throughout the United States.

The incorporation of Ajax Specialty Insurance into Novatae’s operations marks a significant growth milestone for the latter, further strengthening its capacity to address the evolving needs of clients navigating the complexities of risk in today’s increasingly digital and interconnected environment. As the insurance market continues to evolve, both Novatae and Ajax are positioned to leverage their combined expertise to deliver innovative solutions that meet the demands of their consumers.

For more details about Novatae Risk Group and its expanding range of services, interested parties can visit www.novatae.com. As the company moves forward, stakeholders are excited to see how this acquisition will unfold and what it means for the future of specialized insurance solutions delivered by Novatae. In an industry marked by challenges and dynamic change, Novatae’s strategic growth is a promising indicator of its commitment to excellence and client satisfaction.