Specialty Captive Group, a division of Specialty Program Group LLC, said Wednesday it's acquired Sedgwick Claims Management Services Inc.'s group captive unit.
Terms from the transaction, which closed Dec. 31, weren't disclosed.
The addition expands Specialty Captive Group's growing portfolio of other risk products, the Summit, New Jersey-based holding company for brokerages and underwriting facilities said.
The group captive unit, comprising six employees, will continue to serve existing captive members and broker partners, and supply expertise to Specialty Program Group clients.
