KRA Insurance Agency, based in Springfield, New Jersey, and New Agency Partners in Parsippany, New Jersey, have announced that the two firms have merged, resulting in a newly-formed agency, KRA Agency Partners. Terms of the transaction were not disclosed.
KRA Agency Partners will provide commercial property/casualty insurance, personal lines insurance, and a wide range of group employee benefit and voluntary benefit programs, as well as individual life, disability and long-term care insurance.
KRA Insurance Agency’s 45 employees and New Agency Partners’ 24 employees will become part of the newly-formed KRA Agency Partners and continue to operate from their current offices in Springfield and Parsippany. The newly-integrated team of licensed professionals has an average of over 20 years of industry experience.
Steve Peck, managing partner of New Agency Partners, was named CEO and Michael Rekoon, president of KRA Insurance Agency, was named as president of KRA Agency Partners.
“We are very excited about this opportunity to expand into Morris County and work with the dedicated and innovative team at New Agency Partners,” Rekoon said.
“The experienced team at KRA has a tremendous reputation. Bringing us together will create great opportunities for our clients and employees,” Peck said.
Topics Mergers & Acquisitions New Jersey
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