AssuredPartners, a portfolio company of GTCR, has acquired Eastern Insurance Acquisition Agency, which does business as Eastern Insurance Group. No financial terms were disclosed. Based in Pennsylvania, Eastern Insurance Group is one of the state’s largest insurance agencies.
LAKE MARY, Fla. (PRWEB) October 28, 2013
AssuredPartners Inc., through its subsidiary AssuredPartners of New Jersey, has acquired Eastern Insurance Acquisition Agency, LLC (D/B/A Eastern Insurance Group). The agency specializes in commercial insurance, personal insurance and life, health and employee benefit programs for individuals and businesses of all sizes.
Eastern Insurance Group has helped clients manage their vulnerabilities, risks and health plans for more than 30 years. Comprised of three divisions, the agency offers services that include: risk management, loss control, personal and corporate planning, investment and insurance solutions. Eastern Insurance Group is one of the largest agencies in northeastern Pennsylvania, reporting revenues of approximately $4.3 million.
“Our goal is to provide real value to our clients through customized insurance products,” said Brian Corbett, President of Eastern Insurance Group. “As part of AssuredPartners of New Jersey, our clients will experience the same trusted service, while benefiting from new resources, support tools and insurance offerings.”
As part of the acquisition, more than 45 Eastern Insurance Group employees will join AssuredPartners of New Jersey. Operations are based in Wilkes Barre and Hazleton, Pa., and will continue under the local leadership of Brian Corbett and Paul “Chip” Siegel.
“As we grow nationally, we look for strategic acquisitions that bring a combination of industry expertise, knowledge and professionalism to the table. As one of the largest agencies in northeastern Pennsylvania, Eastern Insurance Group is a great addition to AssuredPartners,” said Tom Riley, President and COO of AssuredPartners, Inc. “We welcome the Eastern Insurance Group agents and staff to the AssuredPartners family.”
For more information, please visit: http://easterninsurancegroup.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 $260 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with 81 offices in 15 states and a London office. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredptr.com.