AssuredPartners said Friday that it has acquired Herbert L. Jamison & Co., Jamison Special Risk Inc. and Grosvenor Brokers. Financial terms weren’t announced. West Orange, N.J.-based Jamison is an insurance brokerage. Grosvenor is a Lloyd’s broker with expertise in the placement of U.S. professional liability. AssuredPartners is backed by GTCR.
AssuredPartners, Inc., a portfolio company of leading Chicago-based private equity firm GTCR, closed its third investment with the acquisition of Herbert L. Jamison & Co. and Jamison Special Risk Inc. (together “Jamison”) and Grosvenor Brokers (America), LLC (“Grosvenor”). Based in West Orange, New Jersey, Jamison is a full service insurance brokerage firm, with significant expertise in professional liability insurance. The company, together with Grosvenor, supports its niche expertise with a broad distribution strategy, including direct retail brokerage, U.S. and international wholesale, and specialty programs.
“We are excited to have Jamison and Grosvenor join our team as we strive to build AssuredPartners into the premier middle market insurance brokerage,” said Jim Henderson, CEO of AssuredPartners. “With well-developed technical expertise and diverse distribution capabilities, these additions will help us provide our clients valuable insurance solutions.”
“We look forward to a mutually and highly beneficial partnership with AssuredPartners,” commented Sean Pattwell, Managing Director of Jamison.
“We believe this presents an opportunity to further improve and expand the value we have consistently provided to our clients through quality service and risk solutions,” added John McDonald, Managing Director of Jamison.
As part of this partnership, AssuredPartners will provide Jamison and Grosvenor with strategic and financial support to drive continued growth. Jamison and Grosvenor will maintain their day-to-day operations under their current names and locations. The financial terms of the deal were not disclosed.
ABOUT ASSUREDPARTNERS, INC
AssuredPartners Inc., headquartered in Lake Mary, Florida, acquires and invests in property and casualty and employee benefits brokerage businesses across the country. With the addition of the Jamison and Grosvenor operations, AssuredPartners, with approximately $130 million in revenue, is one of the largest and fastest-growing insurance brokerage firms in the U.S. Jim Henderson can be contacted at (407) 708-0029 or firstname.lastname@example.org. Tom Riley can be contacted at (407) 708-0027 or email@example.com. For more information, please visit www.assuredptr.com.
Founded in New York City in 1898, Jamison is a privately held full-service insurance brokerage firm with a rich history and stellar reputation. Jamison has three areas of expertise: (i) as a nationally recognized specialist in the Professional Liability sector, distributing through retail, wholesale and program administration channels; (ii) as a broad property/casualty practice serving the needs of sophisticated national and international accounts, fixed-cost main street commercial business, as well as high-end personal lines clients; and (iii) as an advisor in the employee benefits market, providing its clients with traditional consulting and placement services in the medical insurance, life, and pension areas. To learn more, please visit www.jamisongroup.com.
ABOUT GROSVENOR BROKERS
Founded in 1998, Grosvenor is an FSA-approved Lloyd’s broker with significant expertise in the placement of U.S. professional liability into the international insurance markets. Grosvenor has begun a UK retail professional liability operation primarily serving the needs of UK-based investment advisors, as well as entering into a joint venture service agreement on U.S. medical stop loss business. The firm does business with several large U.S. brokers and certain smaller specialty brokers in the U.S. For more information, please visit www.grosvenorbrokers.com.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the “Leaders Strategy” – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.