XPT Group partners with Sierra Specialty, Fifth investment by Specialty Lines Distribution Firm XPT

September 16, 2019 – XPT Group LLC announced today the acquisition of Sierra Specialty, a Managing General Agency (MGA) and wholesale insurance underwriter/broker representing multiple top “A” rated markets and specialty programs.   XPT’s west coast presence continues to expand with this Clovis / Fresno based company specializing in a variety of products including Agribusiness, P&C Brokerage, General Authority Underwriting, Transportation and Garage, which compliments the other offerings within XPT’s platform.  Led by industry powerhouses Kathy Schroeder and Mark Schroeder who have a proven ability to operate and grow a specialty business while also executing on infrastructure and product development.

“Mark and I are continuously focused on delivering high service to the small and medium marketplaces and it was clear XPT’s team of partners are focused on this market segment and were the perfect experts to help us expand our product offerings and achieve sustained growth,” stated Kathy Schroeder who will continue to serve as President of Sierra Specialty.

Sierra Specialty was founded in 2005 by Kathy Schroeder and Mark Schroeder.  Kathy previously was a top broker with S L Alexander / ESLIB and with Swett & Crawford in Woodland Hills before being promoted to Branch Manager of Swett’s Fresno operation.  Kathy also has a passion for the insurance community currently holding the positions of Vice President of California Insurance Wholesalers Association (CIWA), Board of Directors member for The Surplus Lines Association of California (SLA), advisory council member for Lloyd’s and Atlantic Casualty’s advisory board.  She also served 5 years on the board for AAMGA and was vice president on the inaugural board of WSIA and on the executive committee after AAMGA and NAPSLO merged to form WSIA.

Mark’s experience has been primarily on the underwriting and program manager side with multiple carriers including Transamerica Insurance Group, Crum & Forester and AEON Insurance Group. He has always had a strong focus on establishing and managing national programs such as Accountants Professional Liability, Medical Malpractice, Miscellaneous E &O, Kidnap & Ransom, Auto Dealers & Repair Shops, Tow Trucks/Garage and other Transportation lines. Mark will continue his role with Sierra Specialty of Chief Operating Officer. He will also be partnering to develop programs at XPT and create product integration between Sierra and XPT.

Tom Ruggieri said, “Kathy and Mark’ leadership in the industry and in central California will greatly enhance our partnership. Sierra Specialty reinforces XPT’s collaboration as they will partner in our existing product segments in general authority underwriting, transportation and hospitality, while moving us into agri-business.   Kathy will bring great industry expertise and personnel development acumen to our executive committee.”

XPT continues to develop their expert wholesale insurance broking and Managing General Agency platform through acquisitions and rapid operational growth.  This is XPT’s fifth investment preceded by Western Security Surplus (WSS), WE Love & Associates (WEL), SVA Underwriting (SVA) and Klein & Costa (K&C).

The transaction closed on September 13, 2019 and Sierra Specialty will continue to operate under its established brand name, so client business will not be affected. XPT was represented in the acquisition by TAG Financial.

 

About XPT Group

XPT is a specialty insurance distribution company formed through a partnership of highly experienced management executives and an institutional investor who backs insurance distribution firms.  XPT brings together underwriting and wholesale brokerage firms across many specialty lines through acquisitions and new product development. XPT stands apart by delivering expertise through a collaborative partnership culture. www.xptspecialty.com

Contact: Mark Smith 917.843.1243 msmith@xptspecialty.com

 

About Sierra Specialty

Sierra Specialty was founded in 2005 by Kathy Schroeder and Mark Schroeder.  Sierra Specialty provides retail insurance professionals with underwriting and brokerage services. As an MGA Sierra Specialty writes many lines of business; General Liability, Property, Packages, Professional Liability, EPLI, Cyber, Commercial Auto, Trucking & Cargo, Inland Marine, Garage, Agriculture and Farm & Ranch. Our Specialty Programs are designed for specific industries and classes.  Sierra Specialty is committed to serving the retail insurance professionals by providing the best possible service, price and products.

Contact: Kathy Schroeder 559.256.6910 KathySchroeder@sierraspecialty.com