AssuredPartners Inc. announced its acquisition of Jones, Raphael & Oulundsen Inc. (JRO), an independent insurance agency based in New Britain, Connecticut. Terms of the transaction were not disclosed.
JRO will continue to operate under the local leadership of Vice President Richard Oulundsen and Vice President Garret Ratcliffe, AssuredPartners announced.
JRO has been providing personal and commercial insurance services to individuals, families and businesses in central Connecticut and other regions for nearly 110 years. JRO offers a range of insurance products and services including group benefits, commercial property, personal home and auto, and health insurance.
Headquartered in Lake Mary, Florida, AssuredPartners acquires and invests in insurance brokerage businesses (property/casualty, employee benefits, surety, MGA/wholesalers) across the U.S. and in London. Since its founding in 2011, AssuredPartners has grown to approximately $475 million in annualized revenue. AssuredPartners is a portfolio company of Chicago-based private equity firm GTCR.
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