Relation Insurance Services, a US-based brokerage, has further extended its market presence with the acquisition of assets from Carolina Heritage Insurance.
Financial details of the deal, which was effective on 1 August 2024, were not revealed.
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Carolina Heritage, operating from Hilton Head Island, South Carolina, focuses on insurance for high-net-worth individuals.
The company’s owner, John Alagna, and junior partner Cara Crouch will retain management of the Hilton Head Island office.
Relation Insurance, which offers risk management and benefits consulting services, is aiming to diversify its service portfolio, industry expertise and geographical coverage.
Backed by investment from Aquiline Capital Partners, Relation Insurance has a workforce of around 1,350 across more than 137 sites in the US.
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By GlobalDataRelation Insurance Services CEO Tim Hall said: “Carolina Heritage has built an outstanding reputation in their community and Relation is proud to welcome them aboard. With long-standing relationships in their area, they bring a deep understanding of their clients’ needs and the ability to provide comprehensive insurance solutions. We are excited to welcome them to our team.”
Alagna added: “In order to provide our clients with more resources, we needed to partner with a national brokerage firm that offered those services. Relation’s specialised expertise and broad network of carrier relationships offer our clients access to the best coverage options, plus their team of people were a great culture fit for us.”
This acquisition is the latest in a series of strategic moves by the insurer following last month’s acquisition of H Group Benefits, an Illinois-based company offering a suite of employee benefit insurance products.
In June, Relation Insurance also reinforced its East Coast presence by acquiring Connecticut’s Dunn Insurance, a provider of both personal and commercial insurance solutions.
Furthermore, Relation Insurance’s growth trajectory includes the recent purchase of assets from Bohannon Insurance Group, an independent agency in California, for an undisclosed amount.
