The select business lines acquired from Hancock Insurance Agency and Whitney Insurance Agency support this strategy, while also significantly expanding the AssuredPartners presence in the Gulf Coast region
Lake Mary, Fla. (PRWEB) April 09, 2014
AssuredPartners Inc., through its newly formed platform AssuredPartners Gulf Coast, recently acquired the property & casualty and group benefits insurance lines of business from Hancock Holding Company. The acquisition includes select Hancock Insurance Agency and Whitney Insurance Agency commercial retail operations, reporting approximately $8 million in combined annual revenues.
The acquired commercial retail operations are based in New Orleans, La., Hattiesburg, Miss., Mobile, Ala., and Tampa, Fla. The New Orleans acquisition will operate as J Everett Eaves, an AssuredPartners Gulf Coast company, under the local leadership of Senior Vice President Paul Beckmann. The Hattiesburg and Mobile acquisitions will operate as AssuredPartners Gulf Coast, under the local leadership of Senior Vice President Mark Ludick. The Tampa acquisition will operate as AssuredPartners Gulf Coast, under the local leadership of Senior Vice President Jack Suber. Additionally, the Tampa acquisition will operate under the AssuredPartners Dawson Companies platform.
Under terms of the acquisition, more than 50 employees from the select Hancock Insurance Agency and Whitney Insurance Agency commercial retail operations will join AssuredPartners. Employees will remain in their current office locations.
“We value our relationships with our clients, and will continue to provide the best-in-class insurance and counseling services our clients know and expect as part of AssuredPartners,” Paul Beckmann, Senior Vice President of J. Everett Eaves, an AssuredPartners Gulf Coast company. “This is an exciting opportunity to bring new insurance products, services and solutions to our clients as part of a rapidly growing, national agency.”
“The AssuredPartners growth strategy is built on acquiring middle market insurance business and brokerages. The select business lines acquired from Hancock Insurance Agency and Whitney Insurance Agency support this strategy, while also significantly expanding the AssuredPartners presence in the Gulf Coast region,” said Tom Riley, President and COO of AssuredPartners, Inc. “We welcome the agents and staff to the AssuredPartners team.”
For more info about AssuredPartners, please visit: http://www.assuredptr.com.
ABOUT ASSUREDPARTNERS, INC
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners Inc., a portfolio company of Chicago-based private equity firm GTCR, acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety, MGA/wholesalers) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to approximately $325 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with more than 80 offices in 25 states and a London office. Since 2011, AssuredPartners has acquired more than 50 insurance firms. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredptr.com.