Duncan, Fraser & Bridges Insurance Agency Inc., a member of Combined Agents of America, LLC (CAA), announced it has purchased Amarillo, Texas-based independent insurance agency, Edmond, Deaton & Stephens. According to Duncan, Fraser & Bridges, the purchase represents $10 million in additional premium volume.
Edmond, Deaton & Stephens will maintain its familiar name and office in Amarillo, Texas, but will operate as a division of Duncan, Fraser & Bridges Insurance Agency, headquartered in Pampa.
“Our goal is to double the agency every three years for the next nine years,” said Bill Bridges, executive vice president for Duncan, Fraser & Bridges. “This move opens the Amarillo market to us and provides Edmond, Deaton & Stephens’ clients with access to CAA contracts. Already we have successfully conducted business together through the years and we are thrilled to now have Edmond, Deaton & Stephens as part of our team.”
In business since 1925, Duncan, Fraser & Bridges has additional offices in Borger and Amarillo, however the production office in Amarillo will move into the Edmond, Deaton & Stephens building. Duncan, Fraser & Bridges has a deep oil and gas background and represents most oil and gas markets that write insurance in Texas.
Edmond, Deaton & Stephens formed in 1992. Its president, Jeff Edmond, will continue with the agency as vice president and serve on the board of directors of the new organization. Edmond, Deaton & Stephens focuses primarily on commercial, industrial, manufacturing and contractors’ products, including builders’ risk insurance. Personal lines insurance comprises approximately 20 percent of the business.
Topics Mergers & Acquisitions Texas
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