Relation Insurance Services, which is backed by Aquiline Capital Partners, has acquired Virginia-based Laufer, a provider of commercial and personal lines insurance solutions. No financial terms were disclosed.
WALNUT CREEK, Calif.–(BUSINESS WIRE)–Relation Insurance Services, Inc. (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of Laufer Insurance Solutions, Inc. and The Laufer Insurance Agency, Inc. (collectively, “Laufer”). Laufer was previously part of Nationwide Mutual Insurance Company’s (“Nationwide) exclusive distribution model. Terms of the transaction were not disclosed.
Located in Virginia, Laufer provides commercial and personal lines insurance solutions to clients from multiple offices throughout the state. Laufer is one of the largest former Nationwide exclusive agencies that went independent and will join Relation’s Main Street/small commercial division, Relation Select. Terry Laufer, a Nationwide Hall of Fame agent, will continue to lead Laufer under Relation Select alongside Mallory Lester, Robbie Laufer and Joanna Denny.
“We are excited about our new partnership with Relation,” said Terry Laufer, President of Laufer. “The combination of our local expertise and expansive Virginia footprint coupled with Relation’s scale, products and capital will provide us all of the tools we need to grow the agency.”
This announcement follows Relation’s recent acquisitions of several former Nationwide exclusive agents and the formation of Relation Select to be a platform for agencies that focus on Main Street/small commercial and personal lines business. It provides partner agencies access to a variety of insurance solutions and services to support existing commercial and personal lines clients.
“We welcome the opportunity to partner with Terry and the entire Laufer team,” said Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. “The addition of Laufer to Relation Select provides us a strong footprint in the Virginia marketplace and substantial opportunity for continued growth.”
About Relation Insurance Services, Inc.
Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 35 largest agencies in the country by revenue and has approximately 585 employees across more than 50 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Visit: www.relationinsurance.com for more information.