CM Select Acquisition Spurs MGT’s Risk Solutions

MGT Partners LLC, a privately owned organization backed by seasoned insurance executives and investors, has made a significant move in the insurance industry. The company has successfully acquired CM Select Insurance Company (CM Select). This acquisition marks a transformative step for both companies and the insurance sector.

Subject to regulatory approvals, CM Select will soon transform, adopting the name “MGT Insurance.” This rebranding reflects MGT’s vision to establish itself as a tech-enabled risk solutions platform focusing on the commercial property and casualty (P&C) market.

Graham Topol, Co-founder and Co-CEO of MGT Insurance, emphasized the core mission, stating,

“We want to make commercial P&C insurance easy and efficient by leveraging data and technology to eliminate unnecessary steps and streamline the process on the back end. We’re creating a better insurance experience for our sales partners and policyholders, and protecting what matters most to business owners across the U.S.”

Moreover, MGT Partners LLC is committed to broadening its range of products. It extends its range of Business Owners Policy (BOP) and packages products to encompass a range of industries, including veteran and minority-owned businesses. The acquisition of CM Select is a pivotal move in this direction, as MGT seeks to enhance the sales and customer experience for these underserved markets. CM Select stands out with its digital-first interface and distribution through third-party brokers and Church Mutual agents. The company’s innovative platform simplifies the insurance process for brokers and customers, promoting efficiency and ease of access.

While the terms of the transaction remain undisclosed, Church Mutual Holding Company Inc. expressed confidence in MGT’s vision and capabilities. The collaboration between these entities promises a prosperous future for commercial insurance to enhance efficiency and accessibility.