PE-backed AssuredPartners acquires Ramsey Insurance Agency

AssuredPartners, a portfolio company of GTCR, has acquired Ramsey Insurance Agency. No financial terms were disclosed. Based in Charleston, West Virginia, Ramsey Insurance specializes in coverage for businesses and for individuals.

PRESS RELEASE

LAKE MARY, Fla. – July 3, 2014 — AssuredPartners Inc., through its subsidiary AssuredPartners of West Virginia, LLC, has acquired Ramsey Insurance Agency, Inc., in Charleston, West Virginia. The firm provides insurance services for more than 1,500 businesses and 2,500 families in West Virginia. Ramsey Insurance Agency reports revenues of approximately $1.5 million.

Founded in 1953, the agency specializes in coverage for businesses, including business owners insurance, business auto insurance, and workers’ compensation; and insurance for individuals, including homeowner, auto, and flood. As part of the acquisition, 13 Ramsey Insurance Agency employees will join AssuredPartners of West Virginia. Operations will continue in the Charleston location under the local leadership of Mary Kerns, President of Ramsey Insurance Agency.

“The Ramsey Insurance Agency mission is to provide our clients with a choice of high quality insurance products at competitive prices. By joining AssuredPartners, we can now tap into a network of more than 1,000 insurance carriers to provide our clients with even more coverage options,” said Kerns. “As part of a large national agency, we look forward to offering our clients new services and solutions to protect their businesses, finances and families.”

“The AssuredPartners growth strategy focuses on acquiring local and regional insurance firms with quality people, values and business. The Ramsey Insurance Agency is a leader in the Charleston market, and will be a great partner,” said Tom Riley, President and COO of AssuredPartners, Inc. “We, along with our existing West Virginia-based offices Commercial Insurance Services and Insurance Systems, Inc., welcome Ramsey Insurance Agency to the growing West Virginia marketplace.”

For more information about Ramsey Insurance Agency, please visit: http://www.ramseyinsurance.com/.

ABOUT ASSUREDPARTNERS, INC
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc., a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to approximately $360 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with more than 80 offices in 27 states and a London office. Since 2011, AssuredPartners has acquired more than 60 insurance firms. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis@assuredptr.com, or visit http://www.assuredptr.com.

 

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