Trafalgar Marine acquires specialty yacht business
IRVINE, Calif. – Marine insurance wholesaler Trafalgar Marine Insurance Services has acquired the rights to Extreme Marine Specialists’ remaining specialty yacht business, effective Jan. 1, Trafalgar said in a recent release.
Trafalgar Marine said it would begin immediate servicing and administration of this book of business.
“This acquisition furthers our business plan to grow opportunistically in the specialty yacht market,” said Cary Breese, president and owner of Trafalgar. “Extreme Marine has offered a well-underwritten and well-managed book of high performance yacht business that is a valuable addition to Trafalgar. We are pleased that we were able to accommodate the seller in a timeline that was simply unavailable through traditional sources, and we will continue to act on similar opportunities as they develop.”
Extreme Marine, an independent specialty marine operation headquartered in Brentwood, Tenn., will be exiting the insurance business with the sale of this book of business.
“Trafalgar was quick to recognize the value in Extreme Marine’s remaining book of business and was able to execute the transaction in a very short timeframe and under favorable terms,” said Ruth Buckner, president and owner, Extreme Marine. “We are proud of our book and know that with Trafalgar’s broad array of specialty marine products, and the way in which they’ve dealt with us during this transition, our clients are in excellent hands with Trafalgar Marine.”
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