E.K. McConkey & Co. Inc., based in York, has launched a subsidiary that will specialize in group captive products for mid-size and large businesses throughout the U.S.
The creation of Valley Forge Captive Advisors, located in King of Prussia, will make McConkey one of the largest group captive brokers in the nation, the company said in a news release.
Captive insurance provides coverage for and is controlled by its owners or members. McConkey has been offering captive insurance products to businesses throughout the Mid-Atlantic region since the mid-1990s, the company noted.
“By opening Valley Forge Captive Advisors, McConkey now has the ability to even better serve clients locations in the Philadelphia region as well as clients who have a global reach,” said Norman Basso, president and CEO of McConkey Insurance and Benefits.“This growth is a testament to the hard work and dedication of our entire team.”
The subsidiary will operate within McConkey’s captive division under the leadership of Gary Warren, who will serve as president.
“I’m excited to be a part of a new McConkey launch that will result in us becoming one of the largest group captive brokers in the country,” said Warren. “This partnership will set the stage for ongoing growth opportunities and be a benefit to our clients across the country.”
McConkey’s portfolio of available captive products include workers compensation, general liability, automobile, property, segregated portfolio cells for workers’ compensation, association-sponsored groups, professional liability and a tailored captive-like approach for group health insurance.
Founded in 1890, McConkey provides financial security for businesses throughout the Mid-Atlantic region.