KENTWOOD — Montage Inc., a provider of protection plans for residential furniture, jewelry and watches, has sold to One80 Intermediaries Inc., a Boston-based specialty insurance broker.
The deal included subsidiaries Montage Furniture Services and Montage Jewelry Care, which provide insurance plans and warranties direct to consumers and via retail outlets, according to a statement.
Montage’s insurance plans include traditional pooled risk and captive/reinsurance protection programs. The company got its start more than 40 years ago offering traditional furniture protection plans.
“We are excited to be a part of the One80 platform as it will enable us to offer our retail partners and consumers with diverse warranty and protection plans, while allowing us to continue to provide market leading customer service and maintain our entrepreneurial culture,” Alan Salmon, managing director at One80 Intermediaries who served as president of Montage for nearly 19 years, said in a statement.
The privately held One80 Intermediaries operates from more than 40 offices in the U.S. and Canada, and also serves the insurance market in the U.K. The firm serves as an insurance wholesaler and program manager, offering placement services and binding authority for property and casualty, professional and personal lines, life insurance, and travel/accident and health coverages.
One80 Intermediaries also specializes in medical stop loss, cannabis, alternative risk, warranty coverage and lender-based insurance.
For One80, the transaction bolsters the company’s warranty business, which it first entered in 2020 with the acquisition of Safeware.
“We are committed to growing in this space and look forward to partnering with the Montage team,” One80 Intermediaries President Matthew Power said in a statement.