Towerstone, the Dallas-based wholesale insurance division of IMA Financial Group, has acquired Professional Lines Underwriting Specialists Inc. (PLUS), an Austin-based wholesale insurance brokerage specializing in management and professional liability.
The partnership opens new markets for Towerstone and PLUS, and provides Towerstone with expertise to address new products sought by commercial insurance brokers such as cyber coverage, directors and officers insurance, professional and employment practices liability.
PLUS will operate as a specialty division of Towerstone. Its eight team members will continue to operate out of the company’s office in Austin.
Over the years, PLUS has worked with a variety of clients including tech startups located in Austin.
The acquisition of PLUS is IMA’s 14th in the past 18 months and serves as a springboard for Towerstone’s growth within Texas.
Source: Towerstone
Topics Mergers & Acquisitions
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