Specialty Program Group Hires Michael Hefferon as Chief Strategy Officer

Brokers’ Service Marketing Group, a division of Specialty Program Group LLC, and a leading life and annuity brokerage general agency (BGA), announced today the hiring of Michael Hefferon as Chief Strategy Officer. Hefferon will serve as a member of BSMG’s leadership team and will be involved with overall strategy, including both organic growth and M&A activity.

Hefferon is a recognized industry leader with deep BGA and carrier relationships, and a very unique career and set of skills. He started his own BGA in 1988, sold it in 2006 and served as co-president of Ash Brokerage for six years. Since 2002, he served as BRAMCO’s Chairman and Chief Executive Officer until the creation of LIBRA in January 2020. At LIBRA he served as Chief Strategy Officer and Chief Financial Officer during the transition, until earlier this year.

“BSMG plans to build a unique distribution platform and we are ecstatic to have Mike join the team – he’s one of our industry’s best leaders – a great thinker, visionary and entrepreneur,” said BSMG CEO Jason Lea. “I’ve known and worked closely with Mike for over 20 years – his experiences, expertise and relationships are tremendous. Having Mike on our team is a game changer.”

BSMG’s business was acquired by SPG in December 2021 to anchor a life and annuity platform.

“I am thrilled to join BSMG, a firm that I have held in high regard for many years,” said Mike Hefferon. “What excites me about this organization’s future is the commitment that SPG has made to the distribution integration opportunities that exist within its businesses and industry.  Creating an integrated, robust and comprehensive life insurance distributor will be truly unique.”

About Brokers’ Service Marketing Group

For 50 years, BSMG has delivered uncompromising support and service to top producers in life, annuity, and long term care insurance. BSMG maintains a long-standing and well-earned reputation for excellence in providing exceptional guidance to financial service professionals and financial institutions. From more information, please visit www.bsmg.net

About Specialty Program Group

Headquartered in Summit, NJ, SPG is a fully licensed holding company established to acquire and scale best-in-class insurance underwriting facilities and specialty businesses throughout North America. SPG has a vast portfolio of specialty companies and is over two billion in premium. For more information, please visit www.specialtyprogramgroup.com.