Truist Insurance Holdings and its wholesale insurance subsidiary CRC Group have closed on the acquisition of Constellation Affiliated Partners, an insurance distribution platform operating seven managing general agents (MGAs) and program managers.

The transaction, first announced in May, will add approximately $160 million of annual revenue to Truist Insurance Holdings’

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Many struggling mom-and-pops and minority-owned companies, the critics say, were effectively shut out of this year’s program. Facing a complex loan forgiveness process, many small businesses were intimidated by the prospect of going into debt and didn’t apply, said Ashley Harrington, federal advocacy director for the nonprofit Center for Responsible

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