Millennium Brokerage Group Announces Formation of Subsidiary to Address the Needs of Distributors in Affluent Life Insurance Marketplace

NASHVILLE, Tenn.--(BUSINESS WIRE)--Millennium Brokerage Group (“MBG”) is pleased to announce the formation of a new strategic business unit, MBG Special Risk, and the hiring of industry veteran Timothy C. Moynihan to lead this new company. MBG Special Risk delivers a unique platform designed to support and enhance the distribution of life insurance products in the high net worth and business insurance marketplace. The subsidiary emphasizes the important role that clinical risk management and assessment play in the delivery of competitive life insurance solutions by agents and advisors to their affluent customers and business owners. MBG Special Risk enhances the parent company’s core capabilities and strengthen its efforts to continue to attract, retain and expand its footprint in the affluent and super affluent life brokerage market place.

“I look forward to being part of an organization that exemplifies a vision I share and a business philosophy I embrace. The opportunity to join Bill's talent laden firm allows for keen focus on my passion for unique risk differentiation strategies while accessing Millennium's robust and ample resources.”

Mr. Moynihan brings a wealth of experience, having served most recently as the President of CBIZ Special Risk, a wholly owned subsidiary of CBIZ (NYSE: CBZ), for over 14 years. In that role Mr. Moynihan led all of the underwriting, new business, sales and carrier relations efforts and was responsible for the development and implementation of the clinical risk management platform that served high-end advisors and planners nationwide. In this new venture, Mr. Moynihan reports directly to William L. Zelenik, CEO of Millennium Brokerage Group.

William L. Zelenik said, "We are very excited to announce the formation of this new entity and the hiring of Tim Moynihan to lead this effort. Tim brings a unique combination of advanced underwriting expertise as well as a vast resource of industry intelligence, leadership, and significant relationships that we highly value."

Mr. Moynihan said, "I look forward to being part of an organization that exemplifies a vision I share and a business philosophy I embrace. The opportunity to join Bill's talent laden firm allows for keen focus on my passion for unique risk differentiation strategies while accessing Millennium's robust and ample resources."

Mr. Zelenik went on to say, "We believe that as the life insurance industry continues to evolve, there exists a need for a company with a deeper knowledge base and skill set to provide today’s agents and advisors with the tools their customers require. We have enjoyed a long history of success in the affluent business markets and we feel this added competency significantly impacts our ability to stay at the forefront of this changing market place and thrive in the years ahead."

About Millennium Brokerage Group

Founded in 1998, Millennium Brokerage Group, LLC (MBG) is a leading provider of planning, insurance, and financial services solutions. MBG has operations with offices delivering advanced underwriting and planning services through advisors, banks, broker dealers, financial professionals, and family offices nationwide. MBG is a strategic marketing partner of AMA Insurance and has been approved by AMA Insurance to participate in its Physicians Financial Partners program.