Relation Insurance Services Announces Acquisition of First Insurance | Insurance business America
The company will continue to operate under its old management
Insurance News
By Kenneth Araullo
Relation Insurance Services has acquired the assets of First Insurance, a subsidiary of FirstBank, Inc.
Based in Durant, Oklahoma, First Insurance offers a full range of insurance products, including commercial, personal, farm and ranch, and manufacturing insurance products. Dina Wagner will continue to lead the Durant office as part of the Relation family.
Terms of the transaction, which became effective April 1, 2024, were not disclosed.
“Joining Relation will allow us to better serve our customers,” Wagner said. She also noted that Relations’ specialized expertise and its broad network of carrier relationships would provide customers with better insurance options tailored to their needs.
“First Insurance has built an excellent reputation in its community and Relation is proud to welcome them on board,” said Tim Hall (pictured above), CEO of Relation.
Hall added that the team brings long-term relationships and extensive experience in providing comprehensive insurance solutions, and Relation is pleased to have her join the team.
Relation Insurance Services also announced that the company is actively seeking partnerships to expand its offerings, industry expertise and geographic footprint. The company offers equity ownership opportunities to insurance entrepreneurs and emphasizes a people-centered approach to optimize outcomes for employees and customers.
Relation Insurance Services is an insurance brokerage firm providing risk management and benefits advisory services throughout the United States. Relation employs approximately 1,350 people at more than 137 locations across the country.
The company is privately held and backed by Aquiline Capital Partners, a private equity firm based in New York and London that invests in financial services and technology companies worldwide.
In April, the company announced the acquisition of Elite Insurance, a Brooklyn-based company that provides employee benefits, commercial insurance and high net worth (HNW) insurance.
“Joining Relation allows us to better serve our customers. “Relation’s expertise and broad network of carrier relationships truly provide our customers with access to the best insurance options to meet their needs,” said Elite Insurance owner Yechiel Bromberg.
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2024-05-29 15:04:37
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