InsureZone Inc. announced that it has purchased 100 percent of the assets of CMS Agency Inc. a wholesaler based in Las Vegas. The transaction gives InsureZone, through its wholesale subsidiary AgentSecure, the opportunity to further expand its national platform in a number of western states by bringing new products and carriers to the existing agency partners of CMS. In addition AgentSecure strengthens its offering with each of its national and regional carriers. Terms of the deal were not disclosed.
The CMS office will remain in the Las Vegas area but the day-to-day operations will be managed from the InsureZone/AgentSecure service center in Ft. Worth, Texas. After the acquisition, AgentSecure will have more than 2,000 active agency members in 48 states around the U.S with offices in: Ft. Worth, Texas, Atlanta, Chicago, Oelwein, Iowa, Las Vegas and Henderson, Nev.
“This acquisition is the first step in a growth strategy for InsureZone that we believe will result in the company reaching $100 million in premium over the next two years,” said John Pergande, CEO of InsureZone. “We believe there are a substantial number of brick and mortar wholesalers around the country that cannot afford to invest the dollars needed to offer the ease of doing business that is required in today’s competitive insurance marketplace. As a result we are actively looking to buy or partner with many different kinds of wholesale and agency operations.”
The other aspect of InsureZone’s wholesale development strategy is to broaden its insurance offering away from just standard lines products. A recent technology contract signed by InsureZone will enable the company to offer excess & surplus lines insurance products along with the traditional standard lines.
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