Novacore, a specialty insurance provider, has finalized an agreement to acquire Minglewood Risk, a managing general agent specializing in real estate coverages. This acquisition aims to significantly strengthen Novacore's offerings in habitational and real estate insurance, particularly within the New York City market and surrounding regions. The deal, announced on October 2, 2025, represents a strategic move to enhance Novacore's presence and underwriting capabilities in a key sector.
Key Takeaways
- Novacore is acquiring Minglewood Risk to expand its real estate insurance segment.
- The acquisition focuses on increasing market share in New York City's five boroughs.
- Minglewood Risk brings expertise in habitational and commercial real estate coverages.
- The deal combines Novacore's technology with Minglewood's underwriting knowledge.
- This move aims to provide enhanced value to brokers and clients.
Strategic Expansion in Real Estate Insurance
The acquisition of Minglewood Risk allows Novacore to expand its specialized programs within the real estate insurance sector. Novacore, known as an independent, next-generation specialty insurance provider, seeks to transform the industry. Minglewood Risk's expertise in habitational and real estate coverages aligns directly with Novacore's growth objectives.
A primary goal of this strategic move is to increase Novacore's footprint in the competitive New York City market. The five boroughs of New York City represent a significant area for habitational insurance demand. This expansion is central to Novacore's long-term business plan.
"The acquisition of Minglewood Risk is not just a growth opportunity; it's a significant leap towards our mission of redefining the specialty insurance landscape," said Aaron Miller, CEO of Novacore. "By combining our innovative technology and underwriting expertise, we are poised to deliver unparalleled value to brokers and clients in one of the most dynamic markets in the country."
Minglewood Risk's Market Position and Expertise
Minglewood Risk, headquartered in Langhorne, PA, has established itself as a key player in residential real estate insurance. The firm specializes in Commercial Package (Property & General Liability) and Excess & Umbrella insurance for residential properties. Its core markets include New York, New Jersey, Pennsylvania, Colorado, and California.
Minglewood Risk at a Glance
- Specialization: Commercial Package (Property & General Liability), Excess & Umbrella insurance for residential real estate.
- Key Markets: New York, New Jersey, Pennsylvania, Colorado, California.
- Leadership Experience: Over 40 years of combined industry experience.
- Reputation: Known for creative policy design, responsiveness, and strong broker partnerships.
The company's leadership team brings more than 40 years of combined industry experience. This experience has contributed to Minglewood Risk's reputation for innovative policy design and strong relationships with brokers. These qualities are important for Novacore's vision of transforming specialty insurance.
Integration and Future Growth
Minglewood Risk will integrate into Novacore's Real Estate segment of specialty programs. This integration is expected to leverage Novacore's technological and analytical capabilities with Minglewood's established underwriting expertise. The combined entity aims to accelerate growth, especially in areas with evolving habitational demand.
Jon Hill, President of Minglewood Risk, expressed optimism about the merger. He highlighted the shared commitment to underwriting excellence and client-first service. The combination of strengths is expected to achieve new levels of success while maintaining core business values.
"Joining Novacore marks an exciting new chapter for our team and our partners," said Jon Hill. "Together, we bring a shared commitment to underwriting excellence and client-first service, now strengthened by Novacore's technological and analytical capabilities. This combination positions us to accelerate growth — particularly in the five boroughs of New York, where habitational demand continues to evolve. With Novacore, we are on track to achieve new levels of success while staying true to the values that have guided our business from the start."
Background on Novacore
Novacore is an independent specialty insurance provider. It builds on the 35-year history of NSM Insurance Group. The company offers industry-specific insurance programs through specialized underwriting, advanced technology, and partnerships with carriers. Novacore works with over 20,000 agents across the United States and provides more than 15 specialty programs in various markets. The company's mission is to transform the insurance experience for agents, carrier partners, and clients.
Leadership Perspectives on the Transaction
Charles A. Thomas, Managing Member of Minglewood Risk, also commented on the acquisition. He emphasized that the transaction highlights the quality of Minglewood Risk's operations. He believes it will enable the team to grow faster with Novacore's larger scale and advanced technology.
This acquisition is a clear indicator of consolidation within the specialty insurance market. Companies are seeking to expand their reach and enhance their service offerings through strategic mergers. The real estate insurance segment remains a key area for growth, driven by ongoing property development and evolving risk landscapes.
The combined entity will focus on maintaining strong broker partnerships. This is a critical factor for success in the specialty insurance market. Brokers serve as essential intermediaries, connecting clients with tailored insurance solutions. Both Novacore and Minglewood Risk have historically prioritized these relationships.
Market Impact
The acquisition is expected to create a more competitive force in the habitational and real estate insurance market. It combines specialized underwriting knowledge with modern technological platforms, potentially setting new industry standards for service and efficiency. This could lead to more innovative policy options for residential real estate clients and brokers.
The integration process will involve combining operational systems and client portfolios. Novacore's advanced technology is expected to streamline Minglewood Risk's processes, leading to improved efficiency and better service delivery. This technological upgrade is a significant benefit for Minglewood Risk's existing client base.
Novacore's broad network of over 20,000 agents nationwide will also provide Minglewood Risk with expanded distribution channels. This wider reach can help accelerate growth in new geographic areas beyond Minglewood's traditional core markets. The focus on New York City highlights the importance of urban markets for specialty real estate insurance.
The specialty insurance sector continues to evolve, with technology playing an increasing role. Companies like Novacore are investing in digital solutions to improve underwriting, claims processing, and client engagement. This acquisition is part of a broader trend towards leveraging technology to gain a competitive edge in niche insurance markets.
