Alliant Insurance Services has acquired the employee benefits division of Eugene-based company PBC Insurance, strengthening its operations in the US state of Oregon.
Financial terms of the transaction were not revealed.
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Established in 1993, the brokerage company offers P&C, life and financial services, which are excluded from the deal.
PBC Insurance also focuses on group health, dental and vision insurance, alongside FSA (Flexible Spending Account) and HRA (Health Savings Account) programmes. It also specialises in group life and disability insurance.
The complete team of the PBC Employee Benefits unit will be integrated into Alliant and will continue to operate from Eugene.
Alliant Insurance Services chairman and CEO Tom Corbett said: “PBC’s intent focus on their clients and ability to simplify employer’s experiences with insurance programmes aligns closely with how Alliant does business.
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By GlobalData“PBC’s integrity and long, successful history in Eugene also make our partnership optimal.”
PBC Insurance president Shelli Littlefield said: “Alliant’s commitment to client service and community along with shared culture, values and vision was a primary driver of our decision for the Employee Benefits Division to join their dynamic forward-thinking team.”
Simultaneously, Alliant has announced plans to bolster its Louisiana brokerage team.
In this regard, the company named Buzz Mansfield senior vice-president within the Alliant Americas division.
With more than three decades of experience in commercial insurance and risk management, Mansfield is well-versed in the Louisiana market.
In the new position, he will be based in Lafayette, Louisiana, focusing on property and casualty insurance solutions for the south-east customer base.
Most recently, Mansfield served as senior vice-president at a regional insurance brokerage and consulting company in Lafayette, Louisiana.
Alliant Insurance Services executive vice-president and senior managing director Bob Bennetsen said: “Buzz’s long-standing experience in insurance, risk management, business development and strategic planning will help us further expand our footprint in the Louisiana market.
“He is a service-driven professional who understands the unique risk dynamics facing clients today.”
In a similar deal executed in December last year, Alliant acquired Acceptance Insurance Agency of Tennessee from First Acceptance in a deal valued at up to $120m.
The acquired business sold non-standard auto insurance and related offerings via employee-agents working from 288 leased retail sites across 13 states in the US.
