Florida-based AssuredPartners Inc. said it has completed the acquisition of Commercial Insurance Services through its newly formed operation AssuredPartners of West Virginia.
Terms were not disclosed.
The Commercial Insurance Services transaction marks the first platform acquisition for AssuredPartners in West Virginia, and is the second acquisition for AssuredPartners in 2014. Earlier this month, it announced acquisitions in Ohio and Virginia.
Founded in 1932, Commercial Insurance Services specializes in commercial insurance, employee benefits services, workers’ compensation insurance, risk management, claims management, and personal insurance. The firm reports revenues of approximately $9.5 million.
As part of the acquisition, the firms said 45 Commercial Insurance Services employees will join AssuredPartners of West Virginia. The agency will continue to operate out of the existing Commercial Insurance Services locations in Charleston and Morgantown, W.Va., under the local leadership of Frank Baer and Raye King White.
Commercial Insurance Services will become the seventh AssuredPartners platform entity, joining Neace Lukens, headquartered in Louisville, Ky.; SKCG, headquartered in White Plains, N.Y.; Jamison, headquartered in West Orange, N.J.; Dawson Companies, headquartered in Cleveland, Ohio; SRA, headquartered in Kansas City, Kan.; and AHM, headquartered in St. Louis, Mo..
Topics Mergers & Acquisitions Commercial Lines New Markets Business Insurance Virginia
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