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Specialty Program Group acquires marine insurance solutions provider

Specialty Program Group has acquired the assets of Traverse City, Mich.-based insurance brokerage Global Marine Insurance Agency.

Global Marine Insurance Agency provides insurance solutions for boats, yachts, personal watercraft, marinas, boat dealers and commercial marine vessels.

Terms of the transaction were not disclosed.

Summit, N.J.-based Specialty Program Group is a holding company established to acquire and expand program underwriting and specialty businesses.