MGA Paragon makes entertainment and sports buy

Managing general agent Paragon Insurance Holdings LLC on Friday said it has acquired fellow MGA Reel Media LLC.

Terms of the transaction were not disclosed.

Specialist MGA Paragon Insurance Holdings LLC, formed in 2014, is a unit of Galway Holdings LP and an affiliate of EPIC Insurance Brokers and Consultants Inc.

Reel Media LLC, an entertainment, film, television, sports, motorsports and leisure managing general agent, has offices in California, Massachusetts and Toronto, a statement said.

Reel Media has approximately 50 employees, according to an email from an EPIC spokeswoman. It has relationships with Allianz Global Corporate & Specialty Inc., Munich Re Ltd., HDI Global Specialty SE and Sutton National Insurance Co., the statement said.