Insurance brokerage acquires books of business
A company in the area has acquired part of the portfolio of the largest independent insurance brokerage in the country’s 49th state.
Caledonia-based Acrisure, a retail insurance brokerage, said last week it has acquired Alaska USA Insurance Brokers’ commercial insurance and employee benefits books of business.
The new company will operate as Insurance Brokers of Alaska, while Alaska USA Insurance Brokers will continue to operate as a personal lines insurance agency.
Acrisure will retain Alaska USA staff, who will continue to operate out of existing Alaska USA locations.
Terms of the deal were not disclosed.
“As a result of this transaction, commercial insurance clients will benefit from broader industry experience, access to a greater variety of carriers and the availability of valuable services, such as loss mitigation and risk management,” said Bill Eckhardt, chairman, Alaska USA Insurance Brokers.
Tim Maudsley has been selected to serve as president of Insurance Brokers of Alaska and said Alaska USA's entire related infrastructure will be transferred to the new entity.
“The opportunity to partner with the insurance professionals at Alaska USA is exciting, given their integrity and sincere commitment to their clients,” said Greg Williams, president and CEO, Acrisure. “We’re very pleased to be part of the team and look forward to building on the excellent traditions of this organization.”
Acrisure says it is the 13th largest insurance brokerage in the U.S., with more than 100 locations in 26 states and more than 2,700 employees through its 86 platform agencies.
Acrisure offers a range of risk management and consulting solutions: property and casualty, employee benefits, HR outsourcing and more.
Founded in 1986 as a subsidiary of Alaska USA Federal Credit Union, Alaska USA Insurance Brokers was formed to provide credit union members with insurance options.
It maintains operations in credit union branches in Alaska, Arizona, California and Washington.