Neace Lukens Acquires South Carolina Broker

Louisville, Kentucky-based Neace Lukens is continuing its expansion by acquiring the independent risk management and insurance broker, First Carolina Risk Management Advisors.

The Charleston, S.C.-based First Carolina offers risk management, employee benefits, and personal lines insurance for commercial and individual consumers. It specializes in the manufacturing, construction, real estate, retail and services industries.

First Carolina’s day-to-day functions will be handled by the broker’s previous owners Jed Suddeth and Besty Porter, who will continue to oversee the broker’s 20 employees.

The First Carolina deal marks the second this month for Neace Lukens, which has been aggressively buying up brokers and agencies after being acquired by the Lake Mary, Fla.-based AssuredPartners in September 2011. Earlier this month it announced the acquisition of Morehead Insurance, a Scottsville, Ky. independent insurance agency.

In April, Neace Lukens acquired an Indianapolis-based consulting firm, Matrix Benefit Concepts, and in February it acquired Jenkins Insurance Services, also in Indiana.

Topics Mergers & Acquisitions Agencies South Carolina