AssuredPartners Inc., through its subsidiary Assured Neace Lukens, has acquired First Palmetto Insurance Agency in South Carolina. Terms of the transaction were not disclosed.
First Palmetto Insurance Agency offers personal lines insurance, including homeowners and auto, and coverage for businesses including general liability, commercial property and product liability insurance.
As part of the acquisition, eight First Palmetto Insurance Agency employees will join AssuredPartners. First Palmetto operations will continue in the Murrells Inlet and Pawleys Island offices in South Carolina, under the local leadership of Will Hanna, managing director.
Headquartered in Lake Mary, Florida, AssuredPartners, a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property/casualty, employee benefits, surety, MGA/wholesalers) across the U.S. and in London. Since its founding in 2011, AssuredPartners has acquired more than 75 insurance firms and has approximately $400 million in annualized revenue.
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