Millhiser Smith Agency, an independent insurance agency in Cedar Rapids, Iowa, specializing in risk management, has entered a definitive merger agreement with The Accel Group, a Cedar Valley, Iowa-based insurance agency with offices in Cedar Falls and Waverly.
Effective Jan. 1, 2018, the combined entity will do business as The Accel Group, making it one of the largest Iowa-domiciled insurance agencies in the state.
The merger is the culmination of years of strategic planning and diversification that was fueled by the growing demand for personalized risk management solutions, ranging from personal, business and agribusiness insurance solutions, to financial planning and employee benefits.
The new entity will continue to be run by the same experienced management groups that are in place at each respective company, and will retain their offices in Cedar Falls, Waverly and Cedar Rapids. Tim Gassman, president of Millhiser Smith, will serve as the CEO of the new entity, while Mike Byl, president of The Accel Group, will continue to serve in that capacity.
While each company has similar portfolios of business and personal insurance solutions, The Accel Group also offers agribusiness solutions, wealth management and employee benefits. In addition, Millhiser Smith has a robust risk management solutions division, powered by its proprietary DISCOVERisk process, that the unified company will now be able to leverage.
Source: Millhiser Smith Agency
Topics Agribusiness Iowa
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