Capstone Insurance coverage will get new owners

Angelia Davis, The Greenville News 5:44 p.m. EDT April 4, 2014

Capstone Insurance Services, a Greenville-primarily based firm, is now owned by a New York-primarily based global organization.

The company announced Friday that it has been acquired by Marsh & McLennan Company, the identical business that merged with Rosenfeld Einstein, a a lot more than 80-12 months-outdated Greenville insurance coverage and worker positive aspects firm, in 2012.

Marsh & McLennan Company is a subsidiary of Marsh, a international insurance and chance management brokerage. Marsh is a subsidiary of Marsh & McLennan Businesses., an $ 11 billion worldwide company that trades on the New York Stock Exchange under the symbol MMC.

Thomas R. Brown, vice chairman of MMA’;s Mid-Atlantic area, explained Capstone is a “wonderful addition to more enhance our market place share in the Greenville region.” He also said the firm is pleased to be gaining a higher caliber of neighborhood talent to enhance the resources obtainable to clientele.

Capstone, founded in 1995, is a provider of home/casualty insurance coverage and threat management remedies to more than 1,000 customers ranging from folks to significant corporate entities in practically every single state.

Capstone’;s president, Jack D. Puckett, explained the acquisition gives his business a lot more assets with which to support consumers, his 9 employees have far more stability and the firm has entry to far more talent when they want it.

“With the incredible abilities and assets that MMA brings to bear, we will be even far better positioned to aid our customers, manage and transfer their dangers,” he mentioned.

Capstone will eventually merge into MMA’;s existing Rosenfeld Einstein office off South Pleasantburg Drive. The company’;s workers will continue to function as a group.

In addition to Puckett, Capstone’;s leadership team consists of William Boswell III, executive vice president, and Karen Cooper, vice president.

Puckett said his company was being approached each yr by likely buyers. As an alternative of offering the company, Puckett’;s intention had been to perpetuate internally.

He said the company had not been on MMA’;s radar display till they were suggested by Rosenfeld Einstein, which was one particular of Capstone’;s greatest and most respected rivals.

With MMA, Capstone now will get “far more ammunition to do our task and we get more time freed up to do it. Operationally, this point just started out to seem excellent,” he said

“I’;m expecting I’;m going to be in a position to concentrate a whole lot far more on the consumer. The tradeoff is I am totally giving up, primarily, total autonomy but I’;m offering it up for a excellent cause,” Puckett mentioned.

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