View this article online: https://www.insurancejournal.com/news/east/2017/04/04/446820.htm
Cook Maran & Associates (Cook Maran), one of New York and New Jersey’s largest insurance brokers, will acquire Gundermann & Gundermann (Gundermann), a third-generation, family-owned company that’s grown into a top 25 New York insurer since it was founded in 1937.
Both agencies offer commercial, personal and employee benefit policies to individual and business clients. Gundermann specializes in insurance for franchised car dealers, and through its continuing partnership with Direct Dealer Services, provides F&I (Finance and Insurance) products to dealer clients.
This is Cook Maran’s second recent partnership with an area agency, having acquired New Jersey-based Mintz, Girgan & Brightly (MGB) in January. Similar to that deal, Gundermann & Gundermann will continue to do business under the Gundermann name, with existing management and staff continuing in their current roles. Customers will work with familiar faces in the agency’s Huntington, New York, office, with the added expertise of the combined agencies’ professionals at six offices across the tri-state area.
“In exploring this partnership with Joe and Tom Gundermann and their team, we saw potential to help them continue their growth with stronger regional and national backing, to build our core business across the region and capitalize on their unique services to car dealers,” said Cook Maran Chairman and CEO Len Scioscia in a press release announcing the deal.
In merging with Cook Maran, Gundermann also joins the national platform of Prime Risk Partners (PRP).
“By joining Cook Maran and Prime Risk’s New York metropolitan area platform, we’ve found regional and national partners that understand how we do business and can help us protect even more people, employers and dealerships with competitive coverage and superior claim service,” said Gundermann President and CEO Joseph Gundermann in the release.
Prime Risk Partners Chairman and CEO Bret Quigley added in the release that PRP is aiming for strong and sustainable growth nationally through a thoughtful expansion strategy of finding the right partners, working with leading brokers and embracing a national platform.
Source: Cook Maran & Associates