Completion Bond Firm Media Guarantors Is Acquired By CAC Group
deadline.comMedia Guarantors, a leading provider of completion bonds for independent film, along with the assets of its sister company SpottedRisk, has been acquired by big insurance brokerage CAC Group.
It marks a major shift in a space with only a few key players. President and CEO Fred Milstein will continue to lead Media Guarantors under its new structure.
Janet Comenos, CEO of SpottedRisk, will head CAC’s Entertainment Practice. “We’ve been a on a very rapid growth path over the past four years,” Milstein tells Deadline, as the firm expanded into Canada, Australia, the UK and Ireland and saw its insurer Axa XL offer additional capacity that’s allowed it to work on “even the largest indie films.” Milstein said he and CAC’s chief marketing officer Douglas Turk worked together some years ago at Aon’s entertainment practice and had kept in touch.
Media Guarantors just delivered Ron Howard survival drama Eden and bonded Mel Gibson’s Flight Risk. It bonded The Surfer starring Nicolas Cage, which premiered at Cannes.
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