Novacore Expands Portfolio with Acquisition of Texas’ CP Insurance Associates

Novacore, a specialty insurance managing general agent (MGA) that was previously the U.S. commercial division of NSM Insurance Group, has announced a significant development in its growth strategy. The company has entered into a definitive agreement to acquire CP Insurance Associates (CPIA), a Texas-based insurance services agency. CPIA specializes in lender-placed insurance, investor property, and buy here pay here programs, as well as providing insurance solutions for financial institutions.

This acquisition marks a strategic expansion for Novacore, enhancing its capabilities within the financial institution and lending ecosystem. By integrating CPIA’s long-established platform, Novacore gains access to deep expertise in collateral protection, compliance services, and technology-enabled insurance administration. This move is expected to bolster Novacore’s offerings and improve service delivery to its clients.

CPIA, founded in 1977, has built a solid reputation serving a diverse clientele that includes banks, mortgage servicers, credit unions, hard money lenders, and credit companies across the nation. The agency’s extensive experience and specialized knowledge will complement Novacore’s existing portfolio, allowing for a more comprehensive suite of specialty solutions.

As Novacore continues to expand its reach across the lender-focused insurance and services landscape, the integration of CPIA will play a crucial role in supporting this growth. The acquisition not only enhances Novacore’s service offerings but also positions the company as a more formidable player in the insurance market.

Topics
Mergers & Acquisitions
Texas

Novacore, a specialty insurance managing general agent (MGA) that was previously the U.S. commercial division of NSM Insurance Group, has announced a significant development in its growth strategy. The company has entered into a definitive agreement to acquire CP Insurance Associates (CPIA), a Texas-based insurance services agency. CPIA specializes in lender-placed insurance, investor property, and buy here pay here programs, as well as providing insurance solutions for financial institutions.

This acquisition marks a strategic expansion for Novacore, enhancing its capabilities within the financial institution and lending ecosystem. By integrating CPIA’s long-established platform, Novacore gains access to deep expertise in collateral protection, compliance services, and technology-enabled insurance administration. This move is expected to bolster Novacore’s offerings and improve service delivery to its clients.

CPIA, founded in 1977, has built a solid reputation serving a diverse clientele that includes banks, mortgage servicers, credit unions, hard money lenders, and credit companies across the nation. The agency’s extensive experience and specialized knowledge will complement Novacore’s existing portfolio, allowing for a more comprehensive suite of specialty solutions.

As Novacore continues to expand its reach across the lender-focused insurance and services landscape, the integration of CPIA will play a crucial role in supporting this growth. The acquisition not only enhances Novacore’s service offerings but also positions the company as a more formidable player in the insurance market.

Topics
Mergers & Acquisitions
Texas