Frost Insurance Buys Brokers Insurance Designs

Frost Insurance Agency (FIA), a subsidiary of Frost National Bank, announced the acquisition of Brokers Insurance Designs, an independent insurance agency based in Forth Worth specializing in group employee benefits plans. Terms were not disclosed.

Making the joint announcement were Mike Delabano, president of Frost Insurance Agency’s Fort Worth region, and Frank Kyle, president of Brokers Insurance Designs.

“Partnering with this highly respected agency will greatly expand our employee benefits plan offerings, while almost doubling our customer base,” said Mike Delabano. “This acquisition, following the addition of AIS Insurance and Risk Management in 2001, demonstrates Frost Insurance Agency’s commitment to build a first-class insurance brokerage operation, with outstanding business expertise. In addition, it will allow us to better leverage buying power on behalf of our clients.”

“The Frost organization’s corporate culture of building long-term relationships matches our own way of doing business,” said Frank Kyle. “With this partnership, we will be able to carry on the 15-year heritage of our agency, while enhancing the services we currently offer.”

Established in 1988, Brokers Insurance Designs offers group employee benefits plans for businesses of all sizes, as well as life insurance. They will be fully integrated into Frost Insurance Agency and plan to move into the FIA offices at Frost Bank’s Hulen location in early May.

Brokers Insurance Designs is the sixth acquisition made by Frost Insurance Agency. Earlier acquisitions include Professional Insurance Agents, Inc. in 1999, Houston-based Wayland Hancock Insurance Agency, Inc.; Austin-based Nieman Hanks Puryear and Nieman Hanks Puryear Benefits in 2000; Fort Worth- based AIS Insurance and Risk Management in 2001 and Victoria-based Jentsch Financial Group in 2002.

Topics Mergers & Acquisitions Agencies