XPT Group has partnered with W.E. Love & Associates (WEL), a 36-year old MGA with expertise in trucking risks.
Led by John H. Love and based in Burlington, N.C., WEL offers select retail agencies direct access to trucking insurance underwriters, offering workflow software for the submission process and mobile friendly customized presentations. WEL is currently operating in 30 states.
WEL was established in 1982 by W.E. “Dub” Love, Jr. John Love has worked with WEL, which continues to be a family run business, for 36 years. He has served as WEL’s president since 1992 and will continue to do so in WEL’s partnership with XPT.
Love said working with XPT’s management executive resources will allow the company to better innovate, and more quickly expand its offerings.
WEL is XPT’s second acquisition over the last three months, the first being WSS, a leading wholesale broker and MGA including Western Security Surplus Insurance Brokers, Inc. and its MGU program division West-Pro.
The transaction closed on January 25, 2018 and WEL will continue to operate under its established brand name, so client business will not be affected
XPT is a new specialty insurance distribution company formed by Tom Ruggieri, the former CEO of Swett & Crawford along with Jeff Heath founder of Heath XS now owned by Hallmark Insurance, and Mark Smith who was an executive with RT Specialty, AmWINS and Stewart Smith.
XPT brings together underwriting and wholesale brokerage firms across specialty lines through acquisitions and new product development.