US-based general agency Warner Pacific has acquired five general agencies from financial technology and insurance company Acrisure and agreed on a strategic alliance.
Financial terms of the transaction were not disclosed.
The acquired agencies are Employee Benefit Risk Management based in Illinois; Group Benefit LTD from Iowa; Professional Group Marketing from New York; National United Brokers from Ohio; and Mature Health Services headquartered in Illinois.
These agencies have been foundational in their respective regions, with histories dating back as far as 1981.
Warner Pacific will offer general agency support to Acrisure’s North American Retail business and distribute Acrisure’s wholesale product suite through its broker network.
The collaboration is said to reflect the companies’ shared commitment to market expansion, aiming to improve the benefits and services offered to their carrier and broker partners as well as clients.
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By GlobalDataAcrisure benefits, life & health global head Seth Denson said: “Acrisure’s ability to deliver an extraordinary advantage to our clients runs deep in our DNA, and our strategic alliance with Warner Pacific now unlocks yet another layer of unique and extraordinary value for small and medium enterprise (SME) businesses.
“Our deeper alignment with Warner Pacific brings additional resources to our field while offering their clients access to our exclusive product solutions.”
Warner Pacific co-CEO John Nelson said: “We have gained talented teams and experienced leadership while expanding our national footprint, strengthening our distribution channels, and deepening our product offerings, all enabling us to serve our broker clients better.”
Backed by private equity firm Lovell Minnick Partners, Warner Pacific provides employee benefits solutions, compliance assistance, HR resources and technology services to insurance brokers and agents in multiple US states.