Univest Corporation of Pennsylvania and its insurance subsidiary, Univest Insurance Inc., announced this month the acquisition of John T. Fretz Insurance Agency Inc.
John T. Fretz Insurance Agency is a family-owned-and-operated property/casualty insurance agency for both personal and commercial clients. The agency has offices in Souderton and Lansdale in Montgomery County, Penn.
Univest said the acquisition expands the company’s insurance business and market share in its primary service area of Montgomery County, Penn.
“Growth of the Univest Insurance business through acquisition is part of our long term strategy to diversify our business, giving consumers and businesses in the region convenient access to a complete range of financial solutions from one company,” said Univest Corporation CEO William Aichele. “For more than 75 years, the Fretz Agency has been a well-respected local company with an experienced team of professionals.”
“While this is Univest’s seventh insurance acquisition since 1999, this is only the second agency located in Univest’s core market,” said Ronald Flaherty, president of Univest Insurance Inc.
John T. Fretz Insurance Agency employees will join Univest as a result of the acquisition. These employees will be located in Univest Insurance’s Lansdale office and in a new location expected to open in Souderton later this summer. The John T. Fretz Insurance Agency, Inc. will begin operating under the name Univest Insurance Inc.
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