Associates of Glens Falls Insurance, an independent agency in Glens Falls, New York, announced that it has acquired Loomis & LaPann Inc., an insurance brokerage unit of regional commercial bank Glens Falls National Bank and Trust Company. Terms of the transaction were not disclosed.
Loomis & LaPann, based in Glens Falls, traces its origins back to 1852. It focuses on amateur sports management, developing insurance programs designed for state high school athletic/activities associations, state high school coaches associations, the U.S. Olympic Committee national governing bodies and amateur sports groups/associations. Currently Loomis & LaPann insures over 100,000 high school coaches.
The Loomis & LaPann name will stay intact, and Loomis & LaPann’s Sports Senior Vice President Greg Joly and other associates will join the Associates of Glens Falls Insurance staff and work out of Associates’ office in downtown Glens Falls.
Associates of Glens Falls Insurance President Chuck Gohn said: “We are excited to have Greg and his team with us. Loomis & LaPann is a perfect fit for our growth strategy. We also recognize that the opportunity to purchase a 163-year-old company doesn’t come along too often, and with that opportunity comes the responsibility of moving the company forward. We’re excited to be part of Loomis & LaPann’s future.”
Founded in 1967, Associates of Glens Falls Insurance offers personal and commercial property/casualty insurance as well as life/health insurance. The agency reports approximately $26 million in premium volume.
Topics Mergers & Acquisitions New York
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