2004 | Press Release

Jul 1, 2004 – Investors led by Kronenberg acquire Professional Underwriters assets

PRESS RELEASE
For Immediate Release
Contact: Tom Ruddy, Director of Marketing
Professional Underwriters, Phone: 610-631-8702
truddy@professionalunderwriters.com
www.professionalunderwriters.com
Investors Led by Kronenberg
Acquire Professional Underwriters Assets
July 1, 2004, Trooper, PA: A group of private investors led by William Kronenberg, III,
announced today that it has completed its acquisition of designated assets of Professional
Underwriters which include name, renewal rights and other undisclosed assets. Professional
Underwriters is a Pennsylvania based underwriting services company headquartered in
Trooper, PA. As ìInsurance Program Specialistî, Professional Underwriters features the
Textbook Program, which was designed specifically to meet the risk management needs for
both public and private school districts while the Community Works Program was designed
specifically to meet the risk management needs of various types of public entities.
According to John Solari, President of Professional Underwriters, ìEveryone at Professional
Underwriters is excited about working with Bill Kronenberg and his team to broaden the scope
and quality of our products and services for our customers. We are confident that this change in
ownership will significantly increase our ability to become the preeminent provider of specialty
insurance programs for agents, brokers and insureds countrywide.î
William Kronenberg, III is best known for his leadership in the environmental insurance market
and is considered a pioneer by many in the field. Mr. Kronenberg adds ìWith over 22 years of
experience with specialized insurance programs, Professional Underwriters has effectively used
itsí custom designed Textbook and Community Works Programs to meet the risk management
needs of schools and municipalities. I look forward to helping Professional Underwriters deepen
itsí expertise and product offerings to benefit itsí insured partners and to enhance itsí quality and
efficiency, to better serve itsí broker partners. At the same time, to continue their focus on
underwriting results to meet the goals of itsí carrier partners.î
Mystic Capital Advisors Group, LLC provided advisory services to BK3 on the transaction.

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