IRVINE, Calif.– Alliant Insurance Services has acquired Property Owners Protection Insurance Company, LLC (POPIC), a national captive program manager serving owners and managers of multifamily and single-family residential portfolios. POPIC’s acquisition adds additional products and underwriting capabilities within the real estate sector to the company’s Alliant Underwriting Solutions division.
“POPIC has a proven track record of helping large property owners and managers assume moderate and manageable risk to grow their income,” said Greg Zimmer, Chief Executive Officer of Alliant. “With a diverse team of CPAs, attorneys, and insurance and underwriting professionals, POPIC brings a wealth of experience and highly consultative approach to our growing underwriting practice.”
“The POPIC team has differentiated itself in the marketplace by combining strong institutional knowledge with a highly creative and results-driven approach,” said Bill Mecklenburg, Senior Managing Director, Alliant Underwriting Solutions. “This will enable AUS to further diversify our services and expand our reach in residential real estate program administration.”
Based in Costa Mesa, California, POPIC’s risk management solutions redirect revenue streams that historically have gone to carriers or other third parties back to property owners and managers. POPIC provides a comprehensive suite of services to its clients that includes structuring their captives, managing their programs, and administering tenant compliance.
“Joining forces with Alliant provides our team with expanded capacity and a deep well of resources, which will help us provide an even higher level of service and responsiveness to multifamily clients nationwide,” said Noah Molnar, CEO of POPIC.
The POPIC team will join Alliant as part of the AUS division. Terms of the acquisition were not disclosed.
Source: Alliant Insurance Services
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