EPIC buys alternative investment specialist

EPIC Insurance Brokers and Consultants has acquired Vanbridge LLC, a specialty insurance intermediary, Epic said in a statement Thursday.

Terms of the transaction were not disclosed.

Upon joining San Francisco-based EPIC, the business will operate as Vanbridge, an EPIC Company, the statement said.

Philip V. Moyles Jr., will continue to lead New York-based Vanbridge and has been named executive vice president of EPIC, reporting to Peter Garvey, CEO of EPIC Insurance Brokers and Consultants, the brokerage unit of EPIC Holdings, the statement said. About 45 Vanbridge staff will join EPIC.

“The team at Vanbridge has established their business as the innovative specialist serving the sophisticated needs of the alternative asset management industry,” Mr. Garvey said in the statement.

Vanbridge focuses on alternative asset management, corporate and individual high net worth clients, and solving risk related issues utilizing insurance and alternative capital, the statement said.

EPIC representatives did not immediately respond to requests for additional information.

“I believe that Vanbridge will be able to leverage the EPIC platform to expand its business on behalf of alternative asset managers,” Mr. Moyles said in the statement.