Novatae buys professional lines wholesaler

Novatae Risk Group, the wholesale unit of World Insurance Associates LLC, said Thursday it has acquired Ajax Specialty Insurance.

Terms were not disclosed.

Atlanta-based Ajax specializes in management and professional liability insurance, including directors and officers liability, errors and omissions, and technology and cyber liability, Novatae said in a statement.

The wholesaler, which has eight employees, was founded in 2012 by Andy Bierbaum, and co-owner Karen Kutger joined in 2018.