Alera Group, an independent, national insurance and wealth management firm based in Deerfield, Illinois, has acquired Direct Benefits Inc., located in Saint Paul, Minnesota.
Direct Benefits specializes in insuring individuals, families, retirees and small businesses with dental, vision, pet, travel, short-term medical and ID theft coverage.
Direct Benefits’ online marketplace provides one-stop insurance shopping to nearly 17,000 independent agents, brokers, consultants and general agents in all 50 states. The agency has been in business since 2001.
The Direct Benefits team will continue serving clients in its existing roles. MarshBerry served as the sole financial advisor to Direct Benefits throughout the transaction.
Terms of the transaction were not disclosed.
Source: Alera Group
Topics Mergers & Acquisitions Minnesota
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