ON THE FAST TRACK
EPIC is rapidly becoming one of the largest retail
insurance brokers in the U.S.
From its starting point in 2007, San
Francisco-based Edgewood Partners
Insurance Center (EPIC) is rapidly
becoming one of the largest retail
insurance brokers in the United States.
With initial funding from Stone
Point Capital, the company’s founders
received additional investment from
the Carlyle Group in 2013.
With more than $175 million in
revenue projected by the end of 2014,
for an increase in revenue to more
than $250 million by 2018.
Currently EPIC, a retail property
and casualty insurance brokerage and
employee benefits consultant, has
more than 620 employees operating
in California, Colorado, Connecticut,
Georgia, Illinois, Massachusetts, New
Jersey and New York.
In the past nine months, EPIC has
made four acquisitions that added
$50 million in annual revenue. Those
• The McCart Group of Atlanta, one
of the largest privately held insurance
and risk management firms in Georgia,
acquired on Jan. 9.
“As a 43-year-old company, The
McCart Group had been approached
many times over the years with
offers to sell out to other, larger
organizations,” said Jeff McCart,
president of the company.
“Before EPIC, we were never
seriously interested. But when John
Hahn and Dan Francis (EPIC’s
introduced their vision to build a
national brokerage comprised of firms
with specialized expertise who want
to share their collective knowledge
and resources to compete against
the largest brokers, it was a game
changer,” he said.
• On Jan. 21, EPIC announced
it acquired the program business of
Boston-based Altus Specialty Group.
• On July 22, the shareholders
of Jenkins Insurance Services sold
100 percent of their shares to EPIC.
Jenkins employs 160 people in Reno,
Nev., and in California offices in
Concord, Sacramento, San Jose, and
• On Aug. 13, EPIC added the
retail risk management and property/
casualty team of Stamford, Conn.-based JLT Towers Re. This strategic
build-out of a team serving large,
complex risk management accounts
is a product of EPIC’s broadening
alliance, and partnership and
collaboration with JLT Towers Re.
“This team enhances EPIC’s risk
management services and offerings for
our middle market and upper middle
market clients, expands our reach
into the public entity sector and gives
us additional depth to serve clients in
metropolitan New York,” said EPIC co-founder and CEO John Hahn.
“The multi-prong approach of
acquisitions and the aggressive
recruiting of producers and service
teams has enabled us to grow
organically and strategically,” said
Derek Thomas, chief strategy officer.
“Our plan is to advance a similar model
in key [U.S.] regions”
Specific geographic areas eyed for
growth potential include tier 1 and tier
2 cities in the Northeast, Mid-Atlantic,
Midwest and Southeast, Thomas said.
“Our strategy is to maintain the
local, client-specific success drivers
of our new partners while providing
them with access to broader national
and global resources that can also be
deployed for the benefit of their clients
locally,” he said.
John Redett, managing director,
financial services at The Carlyle
Group, added: “We see tremendous
opportunity for EPIC. Since we
made our initial investment in late