Relation Insurance Services, a privately owned insurance brokerage that offers property and casualty, risk management, employee benefits, and TPA-consulting services through its family of brands across the United States, has acquired Summers Thompson Lowry, Inc., a privately owned insurance brokerage based in Raleigh, North Carolina. Terms of the transaction were not disclosed.
Summers Thompson Lowry will retain the Summers name and operate as Summers Insurance Group, a Relation company. Larry Summers will remain with the company as the head of the Raleigh office.
Founded in 2000 by Larry Summers, Summers offers property and casualty products for commercial and personal clients and has established itself within the Raleigh, Durham and Chapel Hill regions. The acquisition expands Relation’s commercial risk management resources to the greater Raleigh area and further enhances Summers’ nationwide capabilities.
According to Joe Tatum, CEO of Relation, the acquisition will strengthen its P&C offerings in North Carolina.
Relation was formed in 2007 and is a nationwide independent insurance agency. It is ranked by Insurance Journal within the top 40 largest agencies in the country by revenue and has over 500 employees in more than 35 locations nationwide. Relation is a privately held corporation owned by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology.
Topics Mergers & Acquisitions North Carolina Property Casualty
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