SOUTHBOROUGH, Mass.--(BUSINESS WIRE)--Renaissance Alliance has announced plans to establish its corporate headquarters in Chicago, Ill.
Currently based in Southborough, Mass., Renaissance is in late-stage negotiations to secure a new office space in downtown Chicago.
The Chicago location will serve as home base for the Renaissance Executive Committee and senior operating resources in product development, technology, marketing, and corporate services. Renaissance will continue to maintain a significant presence in the Greater Boston area, focused on agency operations and supporting its New England agency members.
Renaissance’s leadership believes that Chicago’s central location will be a key asset in coordinating growth across the U.S. The network, which expects to count more than 300 independent insurance agencies as members by year’s end, is making this move to accelerate the pace of its product and technology platform across its ever-expanding national footprint.
Renaissance CEO Kevin Callahan remarked that “having served as CEO of several Chicago-based companies, I have found the city of Chicago to be incredibly pro-business, with can-do support from local government and the business community.”
Renaissance President Robert Bondi said, “As we move our headquarters to the more centrally located Midwest, we remain committed to maintaining a strong sales and service presence across all geographies where our members do business.”
Renaissance members place more than $3.6bn in total annual premium, with a focus on the network’s 80 appointed insurance markets. Chief Revenue Officer Michael Cormier emphasized that “Chicago has a strong insurance industry presence, and will serve as an effective location to coordinate with insurance companies across the country.”
Gaurav Bhandari, Managing Partner of Long Arc Capital, commented that “Renaissance’s move to Chicago is a big step in the company’s journey to becoming a national force amongst independent Agency Networks. With its broad business community, long history in the insurance sector, deep talent pool and world-class universities, Chicago provides a great home base from which Renaissance can deliver the premier offering in this space.”
About Renaissance Alliance:
Renaissance Alliance, a Long Arc Capital portfolio company, works with independent property & casualty agency owners to grow premium, maximize revenue and increase agency value through increased profit sharing, guaranteed override revenue, and offloading non-revenue generating activities. The net effect is higher revenue, decreased expenses, less operational risk, and accelerated agency growth. Learn more at renaissanceins.com.
About Long Arc Capital:
Long Arc Capital is a private equity firm based in New York City dedicated to building and scaling breakthrough technology and technology-enabled businesses. Founded in 2016, Long Arc has six Partners collectively with over 150 years of investing and operating experience. The firm has a philosophy of “active ownership,” partnering with entrepreneurs and management teams by bringing to bear a comprehensive suite of resources that advance the human capital, strategic, product development, technology, and financial strengths of its portfolio companies, successfully driving their profitable growth.
