Insurance broker expands with Idaho acquisition
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Newport Beach, California-based broker Alliant Insurance Services Inc. on Friday said it has acquired independent agency North Idaho Insurance L.L.C.
The terms of the agreement were not disclosed.
Based in Sandpoint, Idaho, North Idaho Insurance provides personal lines, commercial lines and employee benefits products and services to clients throughout the inland Northwest, Alliant said in a statement.
The deal allows Alliant to expand its presence in the Northwest middle market, while North Idaho Insurance will benefit from expanded resources, according to the statement.
North Idaho Insurance will operate as part of Alliant Americas, an Alliant organization launched in January 2014 focused on middle-market insurance products and services, Alliant said.
As part of the deal, North Idaho Insurance managing agent Mike Mahoney will join Alliant as vice president, and the firm will continue to operate under its current name and brand, Alliant said.
“North Idaho Insurance is a regional insurance leader committed to addressing the unique risks and exposures faced by rural clients,” Sean McConlogue, president of Alliant Americas, said in the statement.
“This partnership will enable us to maintain our targeted focus on serving the local community, while benefiting from the power and strength of Alliant’s national platform,” Mr. Mahoney said in the statement.
The deal marks Alliant’s third transaction in the region in seven months, according to the statement.
Alliant is the 12th-largest broker of U.S. business, according to Business Insurance’s latest ranking.
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