The Heffernan Group and MBO Insurance Brokers Announce Merger

September 18, 2001

The Heffernan Group, one of the largest full-service brokerages firms in California, and MBO Insurance Brokers Inc., an independent brokerage firm specializing in commercial insurance on a worldwide basis, announced the completion of their merger. The new entity brings together the teams of Heffernan Insurance Brokers and MBO and will operate as Heffernan MBO.

“Our objective has always been to provide clients with the market clout of a larger broker, but still be able to provide small broker customer care,” said F. Michael Heffernan, president of the Heffernan Group. “This merger allows us to further reach our goal.”

Heffernan MBO is headquartered in Menlo Park, and offers a full-line of property, liability and group medical insurance. The company works with a diverse group of emerging and established companies.

The Heffernan Group, formed in 1988, is one of the largest full service insurance brokerage firms in the Bay Area with premium volume exceeding $240 million. The firm provides comprehensives insurance and financial services products to a wide range of businesses and individuals. The Heffernan Group customizes insurance products for specific industries tailored to their unique needs. The company currently has 220 full-time employees, and is headquartered in Walnut Creek, California with additional offices in San Francisco, Sonoma, Oregon, Nevada, Tennessee and, now, Menlo Park.

The Heffernan Group includes three different entities — Heffernan Insurance Brokers, a full-service retail brokerage firm; Heffernan Ryan Investment Management, LLC, a provider of fee-based financial services; and Advanced Risk Technologies (ART), a provider of risk management insurance including loss control, first aid claims administration, claims management services and third party administrator services.

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