Brightway Insurance agency owner Ken Toney, whose retail store is located in Sanford, Fla., has acquired the book of business of Lake Mary, Fla.-based Towne Center Insurance Agency.
Towne Center’s customers join the Brightway store, as does previous owner Chris Palumbo, who will act as a producer working with Toney.
President Talman Howard said Brightway will be seeking additional acquisitions in 2014. Plans are to acquire licenses in nearly all 50 states by July. These licenses will allow the company to enter new geographic markets through organic growth and acquisition, giving it a quick footprint in new states in 2014.
The insurance retailer assists its agents by paying a portion directly and financing their share of acquisitions.
Brightway Insurance said it now has 110 stores and more than $300 million in written premiums.