Heffernan unit buys reinsurance brokerage

Tangram Insurance Services Inc., the managing general agent and program management unit of Heffernan Group, said Wednesday it has bought Preferred Reinsurance Intermediaries.

The purchase of Columbia, South Carolina-based Preferred Re, which has six staff, marks Tangram’s expansion into reinsurance broking.

Terms were not disclosed.

Bob Sanders, president of Preferred Re, will continue to lead the company, Tangram said in a statement.

Preferred Re offers traditional reinsurance placement services; development and placement services for MGAs, managing general underwriters and program managers; and reinsurance placement and fronting services for captives.