US-based insurer King Risk Partners has strengthened its national foothold with the purchase of independent insurance company Barker, Beck, Collins & Kronauge Agency (BBC&K).
Financial terms of the deal were not revealed.
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The acquisition of Dayton, Ohio-based BBC&K expands King Risk Partners’ presence in the Midwest region.
Set up in 1923, BBC&K has strong presence in the Miami Valley area of Ohio.
The company has broadened its expertise in auto, home and business insurance over the years and developed its group health and long-term care departments.
King Risk Partners CEO Malcolm King said: “Their commitment to building strong client relationships and their decades of expertise perfectly align with our vision of partnering with established, reputable agencies. This acquisition not only expands our footprint into Ohio but also reinforces our ability to provide top-tier service in the Midwest.”
Agency partners Daniel Kronauge, Scott Barker and Bob Collins stated: “Joining forces with King Risk Partners is a tremendous opportunity for our agency and our clients. Our priority has always been exceptional customer service, and this partnership enables us to expand our personal and business insurance offerings while maintaining the high standards of care and satisfaction our clients have come to expect.”
The latest deal aligns with King Risk Partners’ ongoing growth strategy, which involves forming partnerships with agencies, and follows its acquisition of Tennessee-based Pigg Insurance.
King Risk Partners’ service suite includes business, home, auto and life insurance.
