Relation Insurance Services, which is owned by Aquiline Capital Partners, has acquired Raleigh, North Carolina-based Summers Thompson Lowry Inc, a insurance brokerage. No financial terms were disclosed.
PRESS RELEASE
WALNUT CREEK, Calif.–(BUSINESS WIRE)–Relation Insurance Services (“Relation”), a privately owned insurance brokerage that offers property and casualty, risk management, employee benefits, and TPA-consulting services through its family of brands across the United States, announced today it has acquired Summers Thompson Lowry, Inc. (“Summers”), a privately owned insurance brokerage based in Raleigh, North Carolina. Terms of the transaction were not disclosed. Summers Thompson Lowry will retain the Summers name and operate as Summers Insurance Group, a Relation company. Larry Summers will remain with the company as the head of the Raleigh office.
Founded in 2000 by Larry Summers, Summers offers property and casualty solutions for commercial and personal clients and has established itself as a premier P&C firm within the Raleigh, Durham and Chapel Hill regions. The acquisition expands Relation’s commercial risk management resources to the greater Raleigh area and further enhances Summers’ well-established nationwide capabilities.
“We are excited to welcome Summers Thompson Lowry to the Relation family,” said Joe Tatum, CEO of Relation. “This acquisition will significantly strengthen our P&C offerings in North Carolina and we are excited to partner with Larry Summers and the entire Summers team.”
“Joining Relation is an exciting evolution for our firm and our clients,” said Larry Summers, President of Summers Thompson Lowry. “I am extremely excited about the additional resources and services Relation will deliver to our clients. We are ideally poised with this partnership for continued growth and success.”
Relation was formed in 2007 and is one of the nation’s leading independent insurance agencies. For more information on partnering with Relation, visit www.relationinsurance.com/about-us/mergers-and-acquisitions/.
About Relation Insurance Services
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 40 largest agencies in the country by revenue and has over 500 employees in more than 35 locations nationwide. Relation is a privately held corporation owned 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.
About Summers Thompson Lowry
Summers Thompson Lowry is a full-service insurance brokerage firm headquartered in Raleigh, North Carolina. Summers provides a full suite of P&C products and services to commercial and personal clients.
Visit: www.stlinsure.com for more information.
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