RISK MANAGEMENT, INSURANCE TECHNOLOGY
Globenewswire | April 19, 2023
Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced its acquisition of HollandStivers Employer Solutions, a specialist in employee benefits located in Paducah, Kentucky. Terms of the deal were not disclosed.
Tracing its roots back to 1994, HollandStivers Employer Solutions marks the first acquisition by Risk Strategies in Kentucky. The firm brings several complimentary capabilities to the Risk Strategies National Employee Benefits Practice, including expertise in group medical, individual medical, group life and dental. HollandStivers also offers clients payroll administration and other HR services.
“We acquire firms that match in terms of culture and approach to our specialist focus,” said John Greenbaum, Risk Strategies National Employee Benefits Practice Leader. “The team at HollandStivers are great people and expand our geographic presence while adding expertise in integrated human capital management and payroll administration to our rapidly growing repertoire of client services.”
With almost 30 years of experience in the benefits insurance industry, HollandStivers has established deep, trusted relationships with its clients. The firm’s strong client-focused approach builds great loyalty among its customers, with many having been with the firm for over 20 years.
“In seeking a firm to help expand our capabilities and reach, we saw Risk Strategies specialist, client-first approach as being a great fit for our people and our clients,” said Jody Stivers, Founder & President, HollandStivers. “We’re excited to become part of a true national-scale specialty brokerage and practice.”
Along with customized employee benefits solutions, HollandStivers offers clients an array of value-added services including data analytics, carrier rate negotiation, compliance assistance, and employee communication and education. The payroll administration services directly provided by the firm include product selection and implementation of a payroll HCM (Human Capital Management) system as well as ongoing technical support for their payroll HCM.
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. RiskStrategies.com.
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CORE INSURANCE, RISK MANAGEMENT
Globenewswire | May 23, 2023
World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Rubicon Benefits LLC (“Rubicon Benefits”) of Melville, NY on April 1, 2023. Terms of the transaction were not disclosed.
Rubicon Benefits was founded in 2000. Today they provide employee benefits to businesses in the New York metropolitan area, as well as across the country.
“Rubicon Benefits strives to become a strategic partner with employers, leveraging successful strategies in plan design so our clients can attract and retain top talent, and save money without reducing benefits,” says Adam Rosenfeld, President, Rubicon Benefits. “We look forward to continuing this approach as part of World.”
“It’s great to welcome Rubicon Benefits to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They successfully work with their clients to create innovative employee benefits solutions, and I know they will be a great addition to our Employee Benefits team.”
“We are delighted to welcome Rubicon Benefits to our World Employee Benefits Practice. Their expertise in developing tailored benefit solutions for clients will be instrumental in our continued growth and success,” says Jennifer Barton, Head of Employee Benefits.
Giordano, Halleran & Ciesla provided legal counsel to World, and Fortrust Diligence advised them on the transaction. Lauletta Birnbaum, LLC provided legal counsel to Rubicon Benefits, and Rosen Advisory advised them on the transaction. No other advisors, diligence or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 190 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and is a Top-50 ranked personal lines agency by Insurance Journal. For more information, please visit www.worldinsurance.com.
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CORE INSURANCE, INSURANCE TECHNOLOGY
PRnewswire | May 10, 2023
Confie, the largest personal lines insurance distribution company in the U.S., announces the acquisition of Estrella Insurance to its non-standard national brand Freeway Insurance. Confie's latest acquisition significantly expands its footprint in Florida and their franchise division.
Estrella Insurance operates more than 190 locations across Florida, California, Arizona, Texas, and Colorado. For over 40 years, they have provided affordable insurance solutions and exceptional service to their customers. Their product portfolio includes auto, home, commercial, business, life, and health. Estrella will continue to operate under its current brand, and Confie will retain all current employees with their acquisition.
"Estrella has built a strong franchising model well-known among Hispanic consumers, and business owners alike. We are excited to welcome them into our ever-growing family," said Cesar Soriano, Confie CEO. "Franchising allows us to broaden our customer reach, and accelerate our growth into new markets. Americans are entrepreneurial by nature and we proudly will offer them the choice between three trustworthy brands."
In 2022, Freeway Insurance introduced franchising opportunities to entrepreneurs. With more than 530 retail stores nationwide, business owners get access to the company's established business model, respected brand, a wide range of national and regional insurance carriers, and back-office resources. Shortly after, Confie acquired Velox Insurance in December 2021. Velox primarily offers franchising to business owners in the Georgia market.
"Our franchise partners are family, and their success is our success. It was important to find the right partner that would support both our brand, customers, and our growth plan," said Nick Estrella Jr., Estrella's CEO. "Confie is a highly respected organization with years of industry knowledge and forward momentum. It was a perfect fit for Estrella."
In addition to its acquisitions, Confie recently announced the expansion of its business process outsourcing division (BPO) with the launch of a new service center in Tijuana, being ranked #1 Personal Lines Leader by Insurance Journal for a seventh straight year and the expansion of their InsureOne brand by way of an agency network for independent insurance agents.
"Confie's expansion plans rely on strategic acquisitions and we welcome that challenge," said Chad Maxwell, SVP, mergers & acquisitions, Confie. "Identifying places where we can strengthen our presence helps us accomplish growth and development, and we are actively seeking great partners to join the Confie family."
About Confie
Established in 2008, Confie is the nation's leading personal lines insurance distribution company. Today, Confie meets customers wherever they are – with more than 750+ retail locations in 23 states, the Bluefire general agency, and a telephone and online shared service center servicing all 50 states. With flexible insurance options, outstanding value, and convenient service, Confie's aspiration is to be the most trusted source of insurance solutions so our customers can have peace of mind. Confie is a portfolio company of Alliant. For more information about Confie, visit www.confie.com.
About Freeway Insurance
Established in 1987, Freeway offers insurance policies via a "click, call, or come-in" approach that provides customers coverage throughout the United States. The company is constantly researching, growing and diversifying product offerings to stay responsive to the ever-evolving insurance market. Freeway offers a wide range of plans, from the most basic to premium plans, in auto, truck, commercial vehicle, fire, flood, homeowners, renters, small commercial, motorcycle, and recreational vehicle insurance products. In 2008, Freeway Insurance joined Confie, the leading national personal lines insurance distribution company. Today, Freeway Insurance services customers in more than 500 offices. Freeway consumers access Freeway Insurance through neighborhood Freeway offices, as well as by visiting www.freewayinsurance.com or by calling (800) 777-5620.
About Estrella Insurance
Miami-based Estrella Insurance is a property and casualty insurance franchisor and a trusted leader among consumers and insurance companies by providing simple, cost-effective insurance solutions across its auto, home, commercial, business, life, and health insurance portfolios. With more than 190 offices across the U.S., it is consistently ranked as a top franchise opportunity with a proven business model that allows owners to focus directly on customer support and community engagement. For more information about Estrella Insurance, visit www.estrellainsurance.com.
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