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ovacore, an independent specialty insurer, has agreed to purchase Minglewood Risk, a managing general agent that focuses on residential and real‑estate coverage. The deal broadens Novacore’s Real Estate portfolio and positions the company for a stronger foothold across New York City’s five boroughs, a market known for its complexity and limited capacity.

    CEO Aaron Miller described the acquisition as a pivotal moment, emphasizing that it not only fuels growth but also advances Novacore’s goal of reshaping specialty insurance through technology and deep underwriting know‑how.

    Founded in Langhorne, PA, Minglewood Risk has earned a solid reputation for Commercial Package (Property and General Liability) and Excess & Umbrella products for residential real estate. Its core markets include New York, New Jersey, Pennsylvania, Colorado, and California, and its leadership brings more than four decades of combined experience.

    President Jon Hill said the partnership will accelerate expansion, especially in NYC’s boroughs where residential demand is evolving. “With Novacore, we’re set to reach new heights while staying true to the values that have guided us,” he added.

    The transaction arrives amid mounting pressure in U.S. real‑estate and residential insurance. Rising property values, higher repair costs, and increased claims from natural disasters and secondary perils are tightening carrier appetite. For owners and landlords, coverage is harder to secure and pricier, pushing brokers toward MGAs and specialty programs.

    MGAs like Minglewood Risk play a crucial role by crafting tailored solutions and navigating complex risks, bridging the gap between limited carrier capacity and growing client needs. Novacore’s purchase signals confidence in specialist underwriting platforms that blend market insight with innovative tools.

    Managing member Charles Thomas noted that the deal highlights Minglewood’s solid foundation and will enable the team to grow faster with Novacore’s scale and technology.