"We focus on partnering with agencies with strong management that demonstrate a dedication to growth and building lasting relationships – we have found this with Keenan,” said Chairman & CEO Jim Henderson.
Lake Mary, Fla. (PRWEB) March 09, 2017
AssuredPartners, Inc. announced today that Keenan & Associates, a top-25* ranked insurance agency, has entered into an agreement to join AssuredPartners. At over $170M in annual revenue, Keenan is the largest privately-held insurance brokerage / consulting firm in California and will be the largest agency in the AssuredPartners family.
Sean Smith, the President and Chief Executive Officer of Keenan, and his current management team will continue to direct Keenan’s operations in its nine offices throughout California. Smith will also be joining the Board of Directors of AssuredPartners.
“This partnership is extremely exciting for Keenan. We will have access to additional capital and a national footprint that will enable us to grow,” said Smith. “There is a strong cultural alignment between our organizations and respective leadership teams. We will be able to continue our tradition of providing excellent service, deep expertise and innovative products to even more clients throughout the country.”
Chairman and Chief Executive Officer of AssuredPartners, Jim Henderson, commented, “We focus on partnering with agencies with strong management that demonstrate a dedication to growth and building lasting relationships – we have found this with Keenan.”
President and Chief Operating Officer of AssuredPartners, Tom Riley, added, “Keenan’s expertise and ongoing commitment to the public entity and healthcare markets, combined with AssuredPartners' resources, will enable the combined company to continue to grow and serve our customers.”
The closing of the transaction is subject to customary closing conditions and regulatory approval and is expected to be finalized in late March or early April 2017.
For more information about Keenan & Associates, please visit: http://www.keenan.com.
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 over $840 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States* with over 190 offices in 30 states, Canada and London. Since 2011, AssuredPartners has acquired more than 170 insurance agencies. For more information, please contact Dean Curtis, CFO, at 407.708.0031 or dcurtis(at)assuredptr(dot)com, or visit http://www.assuredpartners.com.
*Keenan & Associates is ranked 22nd and AssuredPartners is ranked 13th in the July 18, 2016 edition of Business Insurance featuring the “100 largest brokers of U.S. business.”