Balavant Insurance Group, a national managing general agency (MGA) platform, has announced the acquisition of TIMBY Specialty Insurance Solutions, a program manager specializing in inland marine insurance for the transportation, logistics, energy, and construction sectors.
About the Acquisition
Balavant Insurance Group provides MGAs with efficiency and scalability through centralized services, carrier capacity, capital, and modern technology. The acquisition of TIMBY Specialty expands Balavant’s leadership in inland and ocean marine insurance and increases its capacity to address transportation and logistics risks nationwide.
Founded in 2021 and headquartered in Everett, Washington, TIMBY Specialty has established a strong presence in the inland marine market. The company offers Contractors’ Equipment, Motor Truck Cargo, and Warehouse Legal Liability programs, supported by A-rated capacity on both an admitted and non-admitted basis. Additional capacity and expansion into other specialty marine products are planned.
Leadership Perspectives
“TIMBY has established itself as a trusted partner by delivering specialized, high-quality solutions to brokers and clients in critical industries,” said Rekha Skantharaja, CEO of Balavant. “Joining forces with TIMBY elevates Balavant’s leadership in inland and ocean marine and expands our capacity to protect transportation and logistics risks across the country.”
As part of the acquisition, TIMBY’s team will join Balavant while continuing to operate under the TIMBY Specialty brand. Brokers will see no disruption in service, and existing products will remain available.
“This partnership with Balavant positions TIMBY to accelerate growth while maintaining our focus on innovative program design and exceptional broker support,” said Tyler Van Spanje, CEO and founder of TIMBY Specialty. “We’re excited to join forces with a platform that shares our entrepreneurial spirit and commitment to delivering unique solutions to the marketplace.”
Company Overviews
Balavant Insurance Group is a leading MGA platform that combines technology, centralized services, and leadership to support profitable, scalable growth across its subsidiaries. The company’s strategy includes organic program development, recruitment of underwriting teams, and strategic acquisitions. More information is available at balavantinsurancegroup.com.
TIMBY Specialty Insurance Solutions was founded in 2021 and is based in Everett, Washington. It serves transportation, logistics, energy, and construction industries nationwide with admitted and non-admitted inland marine coverage. More information is available at timbyins.com.