Centri makes its first acquisition

Centri Business Consulting has acquired Altair Associates , a Minneapolis-based underwriting and claims services firm serving the property/casualty insurance and reinsurance market. The deal closed June 12 and is Centri’s first acquisition.

Altair, founded in 1990 by Robert “Bob” Drag and the late John Webb, fields more than 30 underwriting and claims professionals operating across North America and London. Its client base stretches from the US and Canada to the Caribbean, Bermuda, the London market (including Lloyd’s), Europe, and Asia.

For Centri — an accounting and advisory firm — the move expands a growing insurance practice and brings in specialized underwriting and claim advisory capabilities that are hard to build from scratch. Drag, who put his insurance career at 54 years, stays on and framed the tie-up as a way to scale Altair’s people and reputation.

Terms were not disclosed.