Strickland Insurance Brokers of Goldsboro, North Carolina has acquired the assets of Palmyra, Virginia-based Tower Transportation Underwriters Inc.
Tower Underwriters, owned by Fred Black, is a managing general agency in Virginia and Delaware that specializes in commercial and public transportation risks. It will now will become part of Strickland Insurance Brokers (SIB).
Robbie Strickland, president of Strickland, said the deal fits with SIB’s growth strategy in the mid-Atlantic region.
Strickland Insurance Brokers is an MGA and wholesale broker founded in 1969. Stamford, Conn.-based Philo Smith Capital Corp. served as SIB’s consultant for this transaction.
Topics Mergers & Acquisitions Underwriting North Carolina Virginia
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