Jacobson, Goldfarb & Scott Inc. (JGS Insurance) has acquired the John Manougian Insurance Agency (JMI) located in Silver Spring, Md.
Following the acquisition, JMI Founder John Manougian will remain as a consultant, while Chris Manougian and Robin Manougian will serve as vice presidents. They along with the rest of the staff will continue to operate from the agency’s Silver Spring, Md., office. JMI will continue to operate as a wholly-owned subsidiary of JGS Insurance with Chris and Robin Manougian as the practice leaders.
JMI was formed in 1970 as an independent agency and offers a full spectrum of insurance services for community associations, including professional insurance management, risk evaluation, loss prevention and risk management services and claims analysis. It currently serves the needs of more than 600 community associations throughout the metro-Washington, D.C., area.
JGS Insurance was established in 1919 as an independent insurance agency that is privately owned. The two principal owners, Kenneth Hager and Vincent Hager, represent in excess of 40 carriers both national and regional. The acquisition underscores JGS Insurance’s growth strategy in community associations as well as throughout the mid-Atlantic region.
Source: Jacobson, Goldfarb & Scott Inc.
Topics Mergers & Acquisitions Maryland
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