Novatae Risk Group has announced the acquisition of the assets of Ajax Specialty Insurance, an Atlanta-based wholesale brokerage specializing in management and professional liability lines. The transaction, which closed on March 1, 2025, further strengthens Novatae’s footprint in the specialty insurance market. Financial terms of the deal were not disclosed.
Founded in 2012 by Andy Bierbaum and joined by co-owner and partner Karen Kutger in 2018, Ajax has established a strong reputation in the industry with a focus on Directors and Officers (D&O), Errors and Omissions (E&O), and Technology/Cyber Liability coverage.
“We are excited to join Novatae and continue delivering tailored solutions to our clients,” said Kutger, who will remain with the firm as president of Ajax.
Legal counsel for Novatae was provided by Giordano Halleran Ciesla, with MarshBerry serving as financial advisor. Ajax was advised by Frost Brown Todd LLP. No additional advisors or diligence firms were disclosed.
This acquisition comes amid broader strategic growth at Novatae. On March 3, 2025, the company welcomed Nick Greggains as its new president. Greggains brings over 30 years of experience in the insurance sector, having held leadership roles at Ethos Specialty Insurance Services, Pioneer Underwriters, XL Insurance, and Caitlin Group. In his new role, he will lead underwriting strategy, business development, client relationships, and operational execution.
In a move to further enhance its product suite, Novatae launched a new Miscellaneous Professional Liability Program on November 1, 2024. Designed for small to mid-sized businesses with up to $5 million in revenue, the program offers nationwide coverage, competitive premiums starting at $350, multiple deductible options, and protection for over 800 professional classes. The program is underwritten in-house.
Capping off a strong year, Novatae was named 2024 Managing General Agency of the Year by the National Association of Professional Insurance Agents, recognizing its leadership and innovation in the wholesale insurance space.
