Inszone intends to enhance its offerings, particularly in specialised sectors such as gas stations and religious institutions. Credit: DocuSign / Unsplash.

US-based insurance brokerage Inszone Insurance Services has acquired compatriot Welcome Insurance Agency, broadening its client coverage.

Financial terms of the deal were not shared.  

Welcome Insurance Agency was established in 2008 by industry veteran Javaid Akhtar. It offers insurance solutions for gas stations, religious institutions, restaurants, and automotive shops.

Inszone CEO Chris Walters said: “We are thrilled to have Welcome Insurance Agency join the Inszone Insurance family.

“Javaid’s unwavering commitment to client-centric service and community involvement resonates with Inszone’s core values. This acquisition is a testament to our dedication to providing top-notch insurance solutions while making a meaningful difference in the communities we serve.”

The acquisition promises a seamless transition for Welcome Insurance Agency’s clients, who will continue to receive personalised service while benefiting from Inszone Insurance Services’s resources and expertise.

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Inszone is engaged in offering comprehensive property & casualty insurance and employee benefits solutions, with a presence in 66 locations across the US.

It intends to extend its reach throughout the country, both through acquisitions and organic means.

In a recent development, Inszone acquired John Henry Insurance Services, which was set up in 2003 by John Henry Garcia and is known for delivering customised insurance solutions for businesses and individuals.

Late last year, private equity company Lightyear Capital invested in Inszone while existing investor BHMS decided to invest additional capital in the insurer.

Inszone will use the funds to ramp up its growth.