Cleveland-based CBIZ Inc. announced that it acquired substantially all the assets of Centric Insurance Agency in New Providence, New Jersey, effective Jan. 1, 2014.
Established in 1994, Centric Insurance Agency is an insurance broker providing property/casualty insurance, with a specialty in education and public schools, to its clients in the New Jersey market. This acquisition is expected to add 10 employees and approximately $1.6 million to CBIZ’s annualized revenue.
CBIZ Chairman and CEO Steve Gerard said the acquisition of Centric will not only add property/casualty services in New Jersey for CBIZ but will also expand CBIZ’s education industry expertise in the Northeast.
CBIZ Inc. provides professional business services including accounting, tax, financial advisory, government health care consulting, risk advisory, real estate consulting, and valuation services. CBIZ’s employee services include employee benefits consulting, property/casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. CBIZ’s services are provided through nearly 100 offices in 32 states.