Specialty Captive Group acquires group captive unit from Sedgwick

Specialty Captive Group, a division of Specialty Program Group LLC, said Wednesday it has acquired Sedgwick Claims Management Services Inc.’s group captive unit.

Terms of the transaction, which closed Dec. 31, were not disclosed.

The addition expands Specialty Captive Group’s growing portfolio of alternative risk products, the Summit, New Jersey-based holding company for brokerages and underwriting facilities said.

The group captive unit, comprising six employees, will continue to serve existing captive members and broker partners, and provide expertise to Specialty Program Group clients.