C&M First Services caters to Asian American retail brokers throughout the US. Credit: Steve Buissinne/Pixabay

One80 Intermediaries purchased C&M First Services, a brokerage firm that focuses primarily on Asian American businesses in the US.

The companies did not divulge the financial terms of the deal.

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C&M First Services, which is based New York City, provides commercial and personal lines insurance.

Established in 1989, the Asian owned insurance agency has been providing insurance solutions to customers from diverse backgrounds.

One80 Intermediaries president Matthew Power said: “Asian American owned businesses continue to expand and develop throughout the United States. I have been very impressed with C&M First’s tailored approach to customer service and look forward to working with the team to serve Asian American businesses.”

Elaborating on it, One80 Intermediaries managing director Eric Cheng said: “I look forward to leveraging One80’s platform to scale the C&M First business model while continuing to provide market leading customer service to our existing relationships throughout the United States.”

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Recently, One80 Intermediaries also acquired Agentic Insurance, a wholesale broker focusing on financial lines coverage.

Agentic Insurance offers consultative brokerage services for professional lines products. The purchase was part of the company’s plan to acquire financial lines specialty firms.

One80 Intermediaries is an insurance wholesaler and program manager with offices in 40 locations across the US and Canada.

It offers placement services and binding authority for property and casualty, professional and personal lines, life insurance, and travel/accident and health coverages. It is said to specialise in industry verticals such as medical stop loss, cannabis captives, alternative risk, warranty coverage and lender-based insurance.