Metro Joins Preferred Concepts

New York, NY (November 16, 2012) – Preferred Concepts, LLC, a leading national insurance program underwriter and specialty broker, has acquired certain assets of Metro Insurance Services.  The Metro acquisition expands Preferred’s program underwriting suite to include package coverage for multi-family residential properties, including apartments and condominium associations.
Metro founder and CEO, Steven Gross, will join the Preferred Concepts leadership team as Senior Executive Vice President, Chief Program Officer.  Gross remains responsible for the growth and profitability of the Metro program business and he will work with teams to coordinate  Preferred’s underwriting  processes and enhance best practices.   In addition, he will spearhead the development of additional products and programs.
“I’m delighted to welcome Metro employees and their customers to Preferred,” said Preferred CEO Stuart Farber.“Acquisitions like this support our continued growth strategy and enhance our real estate expertise and offerings.”Metro’s package program complements Preferred’s existing real estate suite, which includes  a high limit umbrella liability program with up to $300 million in limits, a general liability program and a property program as well as specialty wholesale brokerage services.  Steven Gross added , “Preferred’s commitment to customer service and underwriting discipline mirrors our own.   Together we provide customers with a depth and breadth of resources that our competitors can’t match.”

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Preferred Concepts is a leading program underwriter and specialty brokerage firm.  We invite you to explore all of our divisions and the breadth of our service offerings:

  • Preferred Underwriting:  Program solutions for the real estate and hospitality industry
  • Preferred Brokerage:   Property & casualty wholesale brokerage solutions
  •  Quote, bind and issue up to $25 Million of A rated umbrella liability insurance for over 1,000 industry codes.
  • SeaFire Insurance Services:  P&C solutions for the auto industry through a limited distribution model.  Open market environmental solutions for auto risks.

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