Preferred Concepts, LLC, a national program administrator, announced the acquisition of Mercator Risk Services, a leading wholesale broker, specializing in the placement of property, casualty and professional liability lines of business. With the addition of Mercator Risk Services, Preferred Concepts now offers agents and brokers enhanced placement capabilities through its proprietary and transactional carrier platforms.
“I am delighted that we are strengthening Preferred Concepts’ capabilities by partnering with Chris Treanor and the entire Mercator team to offer clients transactional wholesale brokerage services nationally. “We have the talent, experience and creativity to provide a broad suite of products and services to our retail clients across our program and wholesale brokerage divisions” said Stuart A. Farber, President and CEO of Preferred Concepts. Chris Treanor, President and CEO of Mercator Risk Services, added “Our transactional wholesale expertise at Mercator compliments Preferred Concept’s strong programs and retail relationships. The combination creates a stronger company with enhanced retail and longstanding carrier relationships.”
Mercator Risk Services is a wholly owned subsidiary of Preferred Concepts and will continue to trade under the Mercator Risk Services brand. Christopher Treanor, will continue in his role as President and CEO of Mercator Risk Services and as Senior Executive Vice President of Preferred Concepts with a broad set of responsibilities.
The combined company, with 85 employees, in Atlanta, GA; Hartford, CT; New York, NY; San Francisco, CA and Westport, CT, will remain headquartered in New York.