OLI insurance, a subsidiary of Heffernan Insurance, has acquired Valley General Insurance for an undisclosed sum.
The acquired company focuses on commercial lines and personal insurance products.
Go deeper with GlobalData
Valley General will continue to operate autonomously as a subsidiary agency under the leadership of its president David Tuckness.
The San Jose, California-based firm will leverage OLI and Heffernan’s market access, resources, and support to grow.
Tuckness said: “We are thrilled to partner with like-minded professionals at OLI Insurance Services. OLI will enable my team to write more business while providing our existing clients with more carrier options.”
Founded in 1975, Valley General was a part of Archway Insurance Brokers.
OLI president John Prichard Jr. said: “Valley General is a great addition to our network of owned insurance agencies.
“David and his team at Valley General are the foundation for a strong OLI and Heffernan presence in San Jose and the South Bay, and we are excited to partner with this team to help them deliver best in class solutions for their customers, and achieve strong growth objectives.”
Founded in 2017, OLI provides turn-key insurance brokerage infrastructure to people who want to start their own agency.
OLI’s parent organisation Heffernan acquired another California-based Micor insurance broker in February this year.
