Insurance brokerage firm AssuredPartners has acquired Star & Shield Insurance Services to expand its presence in the US state of Florida.
Based in Tallahassee, Florida, the acquired firm offers low-cost insurance for first responders, their families, friends, and neighbours. It is said to generate $2m in revenues annually.
As per the terms of the agreement, Star & Shield Insurance Services’ 11-member team will continue to operate under the guidance of Frank Russo and Allyson Olver.
Commenting on the deal, AssuredPartners regional president Jack Suber stated: “We are excited about the partnership with Star & Shield Insurance Services in a great marketplace.
“AssuredPartners is committed to protecting those who protect and serve in the communities that we live. This partnership will deliver innovative products while providing best-in-class asset protection and unparalleled service to clients on a national level.”
AssuredPartners president and COO Tom Riley stated: “This belief aligns with our vision and operations at AssuredPartners and we look forward to our new partnership.
“It is a pleasure to have the team joins AssuredPartners as we increase our presence in the Florida marketplace. We welcome the dedicated staff and clients of Star and Shield Insurance Services to AssuredPartners.”
Founded in 2011, AssuredPartners distributes property and casualty insurance products, risk management, employee benefits, and personal insurance.