INSURICA Announces Flurry of Acquisition Activity

Oklahoma City-based INSURICA Insurance Management Network announced the acquisition of five insurance agencies since December 2012.

The multi-state broker had been quiet on the acquisition front since their last major deal – the April 2011 purchase of Guaranty Insurance Services and Guaranty Insurance Services of California, which nearly doubled the size of the agency overnight.

Since December, INSURICA has completed the following five transactions:

• The JRJ Agency (Tulsa, Okla.) – a well-known agency within the construction industry. Under the leadership of a new president, Bryan Berman, this office will bolster INSURICA’s presence in the Tulsa market.
• Biltmore Benefits (Phoenix, Ariz.) – a strategic initiative to enhance the Employee Benefits division of INSURICA’s Phoenix office, Minard-Ames Insurance Services / INSURICA.
• Rosemary Spring (San Antonio, Texas) – a strategic initiative to enhance the Employee Benefits division of INSURICA’s San Antonio office by acquiring the book of business and retaining this key figure in the San Antonio benefits market.
• Kenderdine Agency (Palestine, Texas) – an agency that can trace its roots in Palestine, Texas, going back 100 years. Providing a balanced mix of business and personal insurance, Kenderdine Agency / INSURICA will complement INSURICA’s existing East Texas operation, Hilliard-Box Insurance / INSURICA.
• Partners in Benefit Planning (Edmond, Okla.) – an Employee Benefits agency with a strong reputation of service who joined the Oklahoma City office of INSURICA, adding even more resources to the corporate office.

Agency acquisitions will continue as they are part of INSURICA’s strategic growth plan, according to President and CEO Mike Ross.

INSURICA has 23 offices located throughout Oklahoma, Texas, Arkansas, Arizona and California.

Source: INSURICA

Topics Mergers & Acquisitions Texas Oklahoma