Novacore agreed to acquire CP Insurance Associates in a deal aimed at expanding its specialty platform for financial institutions and lender-focused insurance services. The acquisition is set to add CP Insurance Associates’ insurance tracking, investor property coverage, lender-placed insurance, and compliance-oriented services to Novacore’s suite of specialty solutions, strengthening Novacore’s reach across banks, mortgage servicers, credit unions, and other lending channels nationwide.
Founded in 1977 and based in Texas, CP Insurance Associates serves financial institutions and lenders across the U.S. and is licensed in 49 states. The firm is known for its insurance tracking operations, customized lender-placed programs, in-house service teams, and compliance and reporting infrastructure, according to the announcement.
Novacore said the deal aligns with its strategy of building a diversified specialty insurance platform that blends underwriting expertise with technology and services. The company described itself as an independent specialty provider with a 35-year track record with NSM Insurance Group, offering more than 15 specialty programs and partnering with more than 20,000 agents nationwide.
The parties did not disclose financial terms or an expected closing timeline in the announcement.
KEY QUOTES
“The acquisition of CP Insurance Associates represents a strategic expansion of Novacore’s specialty capabilities into insurance services that are critical to today’s financial institutions. CPIA brings nearly five decades of experience, strong operational infrastructure and a technology-driven approach to insurance tracking and lender placed solutions. Together, we are enhancing our ability to deliver scalable, compliant, and efficient solutions that support lenders, carriers and distribution partners across the country.”
Aaron Miller, CEO, Novacore
“Joining Novacore marks an exciting next chapter for CPIA. We have built CPIA on a foundation of service, technology and expertise tailored to the needs of financial institutions. Partnering with Novacore allows us to scale our platform, invest further in innovation and continue delivering the high level of service our clients expect, now backed by a broader specialty insurance organization.”
Martin Rhodes, Chairman and CEO, CP Insurance Associates (CPIA)
