Newport Beach, Calif.-based specialty insurance brokerage Alliant Insurance Services has acquired benefits brokerage Sagewell Partners in Pittsburgh. Terms of the acquisition were not disclosed.
Sagewell Partners specializes in disability and life benefit plans, absence management solutions and human resources consulting services. Sagewell services a broad array of companies, ranging in size from under 500 to more than 50,000 employees.
Under the deal, Sagewell’s CEO David Osterhaus will serve as executive vice president and managing director of Alliant. Sagewell’s executive chairman, Robert Holland, and Sagewell’s president and disability/life practice leader, Richard Fennell, will serve as executive vice presidents at Alliant. Sagewell’s executive team, client services team, and business development team will remain in place following the acquisition.