DOXA Insurance Holdings has announced the acquisition of Bradshaw Insurance Group (BIG). The transaction closed on December 30, 2022.
Headquartered in Delphi, IN, BIG is a multi-service managing general agent (MGA) specializing in niche transportation insurance products, including a drivers association, claims administration, and brokerage division. Its acquisition by DOXA brings more than 150 years of experience, brand recognition and niche products to the holding company. In turn, DOXA will lend BIG administrative resources to help it expand and strengthen its network of retail distribution agents, according to a company statement.
“DOXA is pleased to add such a long-standing and respected niche underwriter to our family of businesses,” said DOXA CEO Matt Sackett. “From the initial conversations it was clear that Bradshaw Insurance Group was a fit for both the organization and the culture.”
“We have closely followed the history of DOXA, as an Indiana-based insurance company, and have been incredibly impressed with the growth of the organization,” said BIG President Stacy Bradshaw. “As a sixth-generation company, culture was paramount to us, and we felt DOXA was the best partnership to move forward with.”
Stacy added that the “advice, transparent transaction approach and ideas for [BIG’s] continuous growth” were the key differentiators that made the company the best option.
Founded in 2017, DOXA has long publicized its intention to acquire small and medium-sized, independently owned and operated MGAs. In an earlier statement, Sackett explained that small and midsize AMS “are often overlooked by companies that are actively acquiring within the insurance industry.”
“In our experience, there is a tremendous amount of knowledge, passion and creativity within what the industry calls a ‘small MGA.’ DOXA’s goal is to partner with these small and midsize agencies, help their growth and operational goals with DOXA’s expertise, and allow each owner to continue to manage but with the freedom to consider their next steps,” said the CEO.
