Novacore Acquires CP Insurance Associates to Enhance Financial Services
Novacore Expands into Financial Institutions Market with Acquisition of CP Insurance Associates
Novacore, based in Pennsylvania, has confirmed the acquisition of CP Insurance Associates (CPIA), a Texas-based insurance agency specializing in lender-placed insurance and solutions for financial institutions. This is Novacore's second acquisition since its establishment last year, significantly boosting its presence in the financial institutions sector.
Strategic Expansion and Integration
The integration of CPIA into Novacore’s portfolio represents a strategic move to expand their specialty solutions for financial institutions and lending sectors. Novacore oversees over $1.3 billion in premium, working with a network of more than 20,000 agent partners across the nation, and offering over 15 niche insurance programs in property and casualty, accident and health, and reinsurance lines.
Aaron Miller, CEO of Novacore, highlighted the acquisition by stating, "CPIA brings nearly five decades of experience, strong operational infrastructure, and a technology-driven approach to insurance tracking and lender-placed solutions." This acquisition aligns with Novacore's growth strategy focused on established programs, niche Managing General Agents (MGAs), and promising startups.
CPIA’s Role and Capabilities
Founded in 1977, CPIA operates out of Huntsville, Texas, and is licensed in 49 states with a workforce of 51 to 200 employees, according to their LinkedIn profile. Their proprietary platform, AlisX, is essential in providing collateral protection insurance, escrow services, and compliance support to a range of financial entities, including banks, mortgage servicers, and credit unions.
Implications for Market Presence and Technology Advancements
This acquisition follows Novacore's procurement of Minglewood Risk, a specialist in habitational and real estate insurance coverages, in October 2025. The addition of CPIA is expected to enhance Novacore's capabilities in the financial sector and propel technology advancements within the firm.
CPIA's chairman and CEO, Martin Rhodes, remarked on the acquisition, stating, "Partnering with Novacore allows us to scale our platform, invest further in innovation, and continue delivering the high level of service our clients expect." By acquiring CPIA, Novacore aims to fortify its operational resources and expand its service capabilities, positioning itself for further growth and innovation in the specialty insurance markets.