AssuredPartners is looking to build our reach by acquiring privately held insurance brokers in the upstate New York region. said Tim Thomas, EVP of AssuredPartners
Lake Mary, Fla. (PRWEB) May 19, 2016
AssuredPartners, Inc. is pleased to announce that Timothy (Tim) Thomas of Rochester, NY has assumed the role of Executive Vice President of Acquisitions for AssuredPartners. In this role Tim will be responsible for successfully identifying new acquisition targets in upstate NY and throughout the country.
Prior to joining AssuredPartners, Tim was a Vice President and Client Consultant at Manning & Napier Benefits, where he consulted with middle market clients. In addition to his experience at Manning & Napier, Tim spent several years at insurance broker Brown and Brown holding various leadership roles. His responsibilities included sales executive, Employee Benefits Leader and Profit Center Leader.
Tim is a graduate of Oswego State University with a BS in Business Administration as well as a Master of Business Administration degree.
“Many independent insurance agencies face a tough decision to perpetuate or sell. With the multiples in today’s market being the highest they have ever been, a lot of agency owners are choosing to sell because the valuation gap between internal and external sale is so great that they can only afford to cash out with an external buyer.” said Tim Thomas, Executive Vice President at AssuredPartners. “AssuredPartners is looking to build our reach by acquiring privately held insurance brokers in the upstate New York region and providing them with the necessary resources to accelerate growth and become the leading insurance firm within their respective markets. We look to provide the leaders of these local insurance agencies with the tools to drive growth and continue to build upon the success they have already built.”
“AssuredPartners is committed to continuous growth both organically and through acquisition.” said Tom Riley, President and COO of AssuredPartners, Inc. “Tim will work in the greater New York area to find agencies to best fit our culture to add to the organization. We’re excited to have Tim join our acquisitions team.”
ABOUT ASSUREDPARTNERS, INC
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners, Inc. acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGU’s) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to $580 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States* with over 125 offices in 30 states and a London office. Since 2011, AssuredPartners has acquired more than 150 insurance agencies. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredptr.com.
*As ranked by Business Insurance in the July 20, 2015 edition, featuring the “100 largest brokers of U.S. business.”