In addition, also on Wednesday, it was announced that the Retirement and Insurance Services Divisions of BISYS Group, Inc. were purchased by J.C. Flowers & Co. LLC (JCF) and combined with Crump Insurance Services, a wholesale property and casualty insurance broker already owned by JCF. The combined operations form a new company – Crump Group, Inc.
John Howard, president of BISYS Life Insurance Services, was named president & CEO of Crump Group, Inc. Crump Group, Inc. is now the largest wholesale insurance distributor in the United States, and one of the leading U. S. providers of recordkeeping and support services to company-sponsored retirement plans. A privately-held company, Crump Group, Inc. generated more than $450 million in revenue during the past twelve months on a pro-forma consolidated basis and employs over 3,000 associates in more than 60 locations. Crump Group, Inc. will operate with three segments: life insurance services, commercial insurance services and retirement services.