Evertree Adds Virginia’s Prosper Insurance to Acquisitions

Connecticut-based independent insurance broker Evertree Insurance Services, LLC said it finalized its acquisition of Virginia Beach-based Prosper Insurance on November 1, bolstering its presence in the Mid-Atlantic region.

Prosper has more than 100 employees and serves Virginia, Tennessee, North Carolina, District of Columbia, South Carolina, Maryland, Georgia, and Kentucky. Prosper was started in 2007 by Drew Monroe and Rohan Shetty.

Prosper is Evertree’s eighth acquisition. They have included three Colorado agencies: 1st American Insurance in Longmont, Alliance Insurance Services in Arvada, and The Banks Agency in Golden— all of which were closed on July 7, 2023 and established Evertree’s presence in the Mountain region.

Previously Evertree reported acquiring Alex Johnson Insurance Agency and State of Art Insurance Agency in the District of Columbia-Virginia region; Provision Insurance Group in Bingham Farms and Grand Rapids, Michigan; and Frankfort, Illinois-based Gnade Insurance Group.

Evertree was founded in 2022 as a technology-driven personal lines platform by Alex Tuff. It now has 210 employees and serves Midwest, Mountain, and Mid-Atlantic states. It has grown through acquisitions with funding from insurance industry investor Integrum Holdings.

Topics Mergers & Acquisitions Virginia